FedEx Co. (FDX) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of FedEx Co. (NYSE:FDX) have received a consensus recommendation of “Buy” from the twenty-two analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $213.60.
A number of analysts have recently issued reports on FDX shares. Daiwa Capital Markets set a $190.00 price target on FedEx and gave the company a “buy” rating in a research report on Thursday, December 20th. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. BMO Capital Markets dropped their price target on FedEx to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, December 19th. They noted that the move was a valuation call. ValuEngine upgraded FedEx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 26th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $233.00 price target on shares of FedEx in a research report on Monday, December 24th.
In related news, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the sale, the chief executive officer now owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John L. Merino sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the completion of the sale, the vice president now owns 30,185 shares of the company’s stock, valued at approximately $5,500,914.40. The disclosure for this sale can be found here. Insiders sold a total of 187,950 shares of company stock valued at $35,170,622 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.
FDX stock traded down $0.77 during mid-day trading on Wednesday, reaching $196.18. 1,775,037 shares of the company traded hands, compared to its average volume of 2,062,442. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $51.38 billion, a PE ratio of 12.81, a PEG ratio of 0.97 and a beta of 1.62. FedEx has a 52-week low of $150.94 and a 52-week high of $266.67.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). The company had revenue of $17.01 billion for the quarter, compared to analysts’ expectations of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.72 EPS. On average, equities research analysts anticipate that FedEx will post 15.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $0.65 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.33%. FedEx’s payout ratio is 16.98%.
FedEx Company Profile
FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
Further Reading: Is it Safe to Invest in Commodities?
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.