FedEx (NYSE:FDX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

FedEx (NYSE:FDX) had its target price hoisted by Wells Fargo & Company from $305.00 to $320.00 in a research report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the shipping service provider’s stock.

A number of other equities research analysts have also recently commented on FDX. Evercore ISI lowered their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Barclays raised their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Raymond James dropped their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Citigroup boosted their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $324.88.

FedEx Stock Down 0.1 %

FDX opened at $275.73 on Friday. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company’s 50-day moving average is $282.71 and its 200 day moving average is $282.10. The firm has a market capitalization of $67.37 billion, a P/E ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its earnings results 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 firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.99 EPS. Research analysts expect that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. FedEx’s payout ratio is 35.18%.

Hedge Funds Weigh In On FedEx

Institutional investors have recently modified their holdings of the company. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of FedEx during the 3rd quarter valued at $31,000. Abound Wealth Management lifted its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC boosted its position in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of FedEx during the third quarter valued at about $47,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Company Profile

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.