FedEx (NYSE:FDX) Price Target Raised to $365.00

by · The Markets Daily

FedEx (NYSE:FDX – Free Report) had its price target raised by Barclays from $350.00 to $365.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the shipping service provider’s stock.

Several other equities analysts also recently commented on FDX. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Raymond James reduced their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Susquehanna cut their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Finally, BMO Capital Markets dropped their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

Read Our Latest Stock Report on FDX

FedEx Stock Up 0.7 %

Shares of FDX opened at $294.46 on Wednesday. The firm has a 50 day simple moving average of $275.40 and a two-hundred day simple moving average of $276.27. The company has a market cap of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17. FedEx has a one year low of $234.45 and a one year 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.

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 for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.55 earnings per share. Research analysts forecast that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. FedEx’s payout ratio is currently 34.05%.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital International Investors increased its position in shares of FedEx by 32.5% during the first 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 FedEx by 5.6% in 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 acquiring an additional 1,056,061 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of 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 acquiring an additional 647,926 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. Finally, World Investment Advisors LLC raised its stake in shares of FedEx by 2,163.7% in the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after buying an additional 183,940 shares during the period. Hedge funds and other 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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