FedEx (NYSE:FDX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a report published on Monday.

Several other equities analysts have also issued reports on the stock. Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Loop Capital cut their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird lowered their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Finally, Citigroup started coverage on shares of FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Down 0.7 %

Shares of NYSE:FDX opened at $268.02 on Monday. The firm has a market cap of $65.95 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.06 and a beta of 1.17. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The business has a fifty day simple moving average of $279.32 and a 200 day simple moving average of $274.85. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $4.55 earnings per share. Analysts predict that FedEx will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Institutional Trading of FedEx

Institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its holdings in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC boosted its stake in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after buying an additional 36 shares during the last quarter. Ascent Wealth Partners LLC grew its holdings in shares of FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC increased its position in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after acquiring an additional 37 shares during the last quarter. Finally, Sachetta LLC increased its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 84.47% 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.