FedEx (NYSE:FDX – Get Free Report) announced that its Board of Directors has approved a share buyback plan on Thursday, March 21st, RTT News reports. The company plans to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
FedEx Stock Performance
FDX opened at $264.78 on Friday. FedEx has a 52-week low of $213.80 and a 52-week high of $285.53. The company has a market cap of $66.17 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a 50-day moving average of $246.19 and a 200-day moving average of $251.46.
FedEx (NYSE:FDX – Get Free Report) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.26. FedEx had a net margin of 4.87% and a return on equity of 16.47%. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx will post 17.52 earnings per share for the current fiscal year.
FedEx Dividend Announcement
Analyst Upgrades and Downgrades
Several research firms recently weighed in on FDX. Stifel Nicolaus cut their target price on shares of FedEx from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Stephens reduced their price target on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 20th. Bank Of America (Bofa) lifted their price objective on shares of FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 20th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.00.
Read Our Latest Analysis on FDX
Insider Activity
In related news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction dated Thursday, December 28th. The stock was purchased at an average cost of $252.02 per share, with a total value of $252,020.00. Following the completion of the purchase, the executive vice president now directly owns 4,745 shares in the company, valued at approximately $1,195,834.90. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was bought at an average cost of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the transaction, the executive vice president now owns 4,745 shares of the company’s stock, valued at $1,195,834.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy B. Lane acquired 200 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were bought at an average cost of $253.22 per share, with a total value of $50,644.00. Following the purchase, the director now owns 3,304 shares of the company’s stock, valued at approximately $836,638.88. The disclosure for this purchase can be found here. Corporate insiders own 8.73% of the company’s stock.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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