FedEx Corporation (NYSE:FDX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• FedEx has a “Moderate Buy” consensus rating from 30 analysts: 17 buys, one strong buy, 10 holds and two sells. The average 12-month price target is $350.54, above the reported share price of $326.14.
• Recent analyst views remain mixed, with Barclays lowering its target to $425 while Jefferies and Citigroup initiated positive coverage and Stephens upgraded the stock to “strong buy”; Weiss Ratings downgraded it to “hold.”
• FedEx reported quarterly revenue of $23.26 billion and EPS of $5.88, while shares traded up 1.2%. The company paid a quarterly dividend of $1.22, equivalent to a 1.5% annualized yield.

FedEx Corporation (NYSE:FDX - Get Free Report) has earned an average rating of "Moderate Buy" from the thirty ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $350.5426.

Several research firms have recently issued reports on FDX. Barclays lowered their price objective on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research note on Wednesday, June 17th. Jefferies Financial Group assumed coverage on shares of FedEx in a report on Tuesday, June 23rd. They set a "buy" rating and a $200.00 target price on the stock. Stephens upgraded shares of FedEx to a "strong-buy" rating in a research report on Wednesday, July 8th. Weiss Ratings cut shares of FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 29th. Finally, Citigroup initiated coverage on shares of FedEx in a research note on Wednesday, July 15th. They set an "outperform" rating for the company.

FedEx Trading Up 1.2%

Shares of FDX stock opened at $326.14 on Thursday. FedEx has a twelve month low of $176.00 and a twelve month high of $345.36. The stock's fifty day simple moving average is $319.09 and its 200 day simple moving average is $350.93. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $77.16 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.66 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $23.26 billion during the quarter. As a group, sell-side analysts predict that FedEx will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx's dividend payout ratio is presently 26.36%.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new position in FedEx during the 1st quarter worth approximately $25,000. Bayban bought a new position in shares of FedEx in the 1st quarter worth about $26,000. EFG International AG bought a new position in shares of FedEx in the 4th quarter worth about $27,000. Wealth Watch Advisors INC acquired a new position in shares of FedEx in the 3rd quarter valued at about $28,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx in the 4th quarter valued at about $29,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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