FedEx Co. (NYSE:FDX) Announces $1.38 Quarterly Dividend

FedEx Co. (NYSE:FDX - Get Free Report) declared a quarterly dividend on Friday, November 15th,RTT News reports. Shareholders of record on Monday, December 9th will be paid a dividend of 1.38 per share by the shipping service provider on Friday, January 3rd. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%.

FedEx has raised its dividend payment by an average of 23.8% per year over the last three years. FedEx has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Analysts expect FedEx to earn $22.30 per share next year, which means the company should continue to be able to cover its $5.52 annual dividend with an expected future payout ratio of 24.8%.

FedEx Price Performance

Shares of NYSE FDX traded up $2.17 during trading hours on Friday, reaching $294.46. 1,498,799 shares of the stock traded hands, compared to its average volume of 1,805,906. The company has a market capitalization of $71.94 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17. 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 has a 52-week low of $234.45 and a 52-week high of $313.84. The company's 50-day simple moving average is $275.18 and its two-hundred day simple moving average is $276.07.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the business earned $4.55 earnings per share. Equities research analysts forecast that FedEx will post 19.59 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FDX. JPMorgan Chase & Co. dropped their price target on FedEx from $359.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, September 20th. Bernstein Bank boosted their price target on FedEx from $305.00 to $337.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. Raymond James cut their price objective on FedEx from $335.00 to $330.00 and set a "buy" rating for the company in a report on Friday, September 20th. Robert W. Baird cut their price target on FedEx from $340.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, September 20th. Finally, StockNews.com raised FedEx from a "hold" rating to a "buy" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $316.04.

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.