FedEx (NYSE:FDX) Upgraded at StockNews.com

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a research note published on Wednesday.

Several other equities research analysts also recently weighed in on FDX. TD Cowen dropped their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Bank of America dropped their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a report on Friday, September 20th. BMO Capital Markets reduced 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. Finally, Bernstein Bank increased their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Trading Up 0.7 %

NYSE FDX opened at $294.46 on Wednesday. The company’s fifty day simple moving average is $275.40 and its 200-day simple moving average is $276.27. The stock has a market cap of $71.94 billion, a P/E ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the company earned $4.55 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts predict that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued 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 dividend payout ratio is 34.05%.

Institutional Investors Weigh In On FedEx

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of FedEx by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after purchasing an additional 67,502 shares during the period. Brophy Wealth Management LLC acquired a new position in FedEx in the 3rd quarter valued at approximately $510,000. LRI Investments LLC increased its stake in FedEx by 45.9% in the 3rd quarter. LRI Investments LLC now owns 664 shares of the shipping service provider’s stock valued at $194,000 after buying an additional 209 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of FedEx by 5.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 70,632 shares of the shipping service provider’s stock valued at $19,331,000 after buying an additional 3,738 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of FedEx by 68.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 17,225 shares of the shipping service provider’s stock valued at $4,714,000 after acquiring an additional 7,011 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other 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.