FedEx (NYSE:FDX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other analysts also recently weighed in on FDX. UBS Group increased their target price on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. JPMorgan Chase & Co. increased their price target on FedEx from $366.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Citigroup boosted their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Stock Performance

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

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.99 earnings per share. On average, equities research analysts predict that FedEx will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

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

Hedge Funds Weigh In On FedEx

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in FedEx during the third quarter worth about $3,405,000. Czech National Bank boosted its stake in shares of FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after buying an additional 2,767 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of FedEx in the second quarter valued at approximately $9,226,000. Raymond James & Associates increased its position in shares of FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after acquiring an additional 31,241 shares during the last quarter. Finally, Versor Investments LP bought a new stake in FedEx during the third quarter worth $2,096,000. 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.