FedEx Co. (NYSE:FDX) Receives $314.17 Consensus PT from Brokerages

FedEx Co. (NYSE:FDX) has received an average rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $314.17.

Several research analysts have weighed in on FDX shares. Stephens reiterated an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Bernstein Bank boosted their price target on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Susquehanna decreased their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Finally, Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th.

FedEx Stock Performance

FDX stock opened at $274.35 on Friday. The company has a market cap of $67.03 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17. 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 stock’s fifty day moving average price is $277.10 and its 200-day moving average price is $275.11.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the company earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts forecast that FedEx will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is 34.05%.

Hedge Funds Weigh In On FedEx

Large investors have recently modified their holdings of the stock. Capital International Investors grew its position in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Mawer Investment Management Ltd. grew its holdings in shares of FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after buying an additional 647,926 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the period. Institutional investors own 84.47% of the company’s stock.

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.