FedEx Co. (NYSE:FDX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of FedEx Co. (NYSE:FDX) have received a consensus rating of “Moderate Buy” from the twenty-seven research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $316.04.

Several analysts recently issued reports on FDX shares. UBS Group dropped their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird cut their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Bernstein Bank increased their price target 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. Finally, Raymond James lowered their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th.

FedEx Stock Performance

FedEx stock opened at $304.86 on Tuesday. The company’s 50-day moving average is $276.59 and its 200 day moving average is $277.98. The firm has a market capitalization of $74.48 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.25 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.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $4.55 EPS. Research analysts forecast that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.81%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Institutional Trading of FedEx

A number of hedge funds have recently made changes to their positions in FDX. Evermay Wealth Management LLC raised its holdings in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter valued at $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management increased its holdings 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 buying an additional 95 shares during the last quarter. Finally, Sachetta LLC lifted its position in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds 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.