FedEx (NYSE:FDX) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

FedEx (NYSE:FDX) had its target price lifted by BMO Capital Markets from $300.00 to $330.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a market perform rating on the shipping service provider’s stock.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Susquehanna dropped their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and raised their target price for the stock from $288.00 to $365.00 in a report on Friday. Finally, Bernstein Bank upped their price target on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Stock Performance

NYSE:FDX opened at $275.73 on Friday. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business has a 50 day moving average of $282.71 and a 200 day moving average of $282.10. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period in the previous year, the business posted $3.99 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after purchasing an additional 67,502 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the last quarter. Ameriprise Financial Inc. increased its position in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in FedEx by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after buying an additional 121,240 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after acquiring an additional 11,100 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

About FedEx

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.