FedEx (NYSE:FDX - Free Report) had its price target raised by JPMorgan Chase & Co. from $366.00 to $370.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the shipping service provider's stock.
Other equities research analysts also recently issued reports about the stock. Raymond James cut their target price on shares of FedEx from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Morgan Stanley cut shares of FedEx from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Hsbc Global Res lowered FedEx from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. Evercore ISI reduced their price target on FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a research report on Friday, September 20th. Finally, UBS Group raised their price objective on FedEx from $311.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $325.24.
Read Our Latest Stock Analysis on FedEx
FedEx Price Performance
FedEx stock traded down $0.15 during mid-day trading on Friday, reaching $275.73. The company had a trading volume of 8,092,276 shares, compared to its average volume of 1,820,057. The business has a fifty day simple moving average of $282.71 and a 200 day simple moving average of $281.85. The company has a market cap 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 has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.
FedEx (NYSE:FDX - Get Free Report) last issued 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. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.99 EPS. On average, equities research analysts predict that FedEx will post 19.59 earnings per share for the current year.
FedEx Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.00%. FedEx's payout ratio is 34.05%.
Institutional Investors Weigh In On FedEx
Several institutional investors have recently bought and sold shares of FDX. &PARTNERS raised its holdings in shares of FedEx by 29.6% in the second quarter. &PARTNERS now owns 3,414 shares of the shipping service provider's stock valued at $1,024,000 after purchasing an additional 779 shares during the last quarter. Secure Asset Management LLC increased its position in shares of FedEx by 10.8% during the second quarter. Secure Asset Management LLC now owns 778 shares of the shipping service provider's stock valued at $233,000 after acquiring an additional 76 shares during the last quarter. Quotient Wealth Partners LLC lifted its holdings in FedEx by 6.8% during the second quarter. Quotient Wealth Partners LLC now owns 945 shares of the shipping service provider's stock worth $283,000 after acquiring an additional 60 shares during the period. LRI Investments LLC boosted its position in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider's stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Finally, Fullcircle Wealth LLC bought a new position in FedEx in the 2nd quarter valued at $268,000. Institutional investors own 84.47% of the company's stock.
FedEx Company Profile
(
Get Free Report)
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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