FedEx (NYSE:FDX) had its target price decreased by Credit Suisse Group from $241.00 to $184.00 in a report issued on Tuesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the shipping service provider’s stock.
Other equities research analysts have also recently issued reports about the company. Daiwa Capital Markets cut FedEx from an outperform rating to a neutral rating and lowered their target price for the company from $187.00 to $179.00 in a research note on Thursday, March 21st. They noted that the move was a valuation call. Morgan Stanley set a $148.00 target price on FedEx and gave the company a hold rating in a research note on Friday, May 17th. ValuEngine cut FedEx from a sell rating to a strong sell rating in a research note on Monday, June 3rd. Susquehanna Bancshares reissued a neutral rating and issued a $174.00 target price on shares of FedEx in a research note on Thursday, March 28th. Finally, BMO Capital Markets lowered their target price on FedEx to $215.00 and set an outperform rating for the company in a research note on Wednesday, March 20th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $202.43.
FDX stock opened at $165.67 on Tuesday. FedEx has a fifty-two week low of $150.68 and a fifty-two week high of $264.99. The firm has a market cap of $42.05 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.77 and a beta of 1.69. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87.
FedEx (NYSE:FDX) last released its quarterly 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). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The business had revenue of $17.01 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period in the prior year, the business earned $3.72 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that FedEx will post 15.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 24th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, June 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.57%. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
In related news, Director Susan C. Schwab sold 3,000 shares of FedEx stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total transaction of $525,330.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick W. Smith sold 155,650 shares of FedEx stock in a transaction 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 sale, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,650 shares of company stock valued at $34,751,470. 8.50% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in FDX. Castle Rock Wealth Management LLC bought a new position in FedEx during the first quarter worth about $13,062,000. Cordasco Financial Network lifted its holdings in FedEx by 181.8% during the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Covenant Multifamily Offices LLC bought a new position in FedEx during the first quarter worth about $29,000. Berman Capital Advisors LLC bought a new position in FedEx during the fourth quarter worth about $25,000. Finally, Evolution Wealth Advisors LLC bought a new position in FedEx during the first quarter worth about $31,000. 69.45% of the stock is owned by institutional investors and hedge funds.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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