BNP Paribas Exane upgraded shares of FedEx (NYSE:FDX - Free Report) from an underperform rating to an outperform rating in a research report released on Thursday morning, MarketBeat reports. BNP Paribas Exane currently has $270.00 target price on the shipping service provider's stock.
FDX has been the topic of a number of other reports. Barclays reaffirmed an "overweight" rating and set a $320.00 price objective (down from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. Sanford C. Bernstein lowered their price objective on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a report on Friday, June 13th. Citigroup lowered their price objective on shares of FedEx from $267.00 to $259.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of FedEx from $260.00 to $290.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $282.46.
Check Out Our Latest Report on FedEx
FedEx Stock Up 0.7%
NYSE FDX traded up $1.74 during mid-day trading on Thursday, hitting $240.88. The company's stock had a trading volume of 2,410,389 shares, compared to its average volume of 1,851,340. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company's 50 day simple moving average is $222.83 and its 200 day simple moving average is $240.93. The firm has a market capitalization of $57.71 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.26 and a beta of 1.35. FedEx has a twelve month low of $194.30 and a twelve month high of $313.84.
FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the company posted $5.41 earnings per share. Analysts anticipate that FedEx will post 19.14 earnings per share for the current year.
FedEx Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.41%. FedEx's payout ratio is presently 34.36%.
Hedge Funds Weigh In On FedEx
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Transce3nd LLC acquired a new position in FedEx in the 4th quarter valued at about $26,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the 4th quarter valued at about $28,000. Runnymede Capital Advisors Inc. acquired a new position in FedEx in the 4th quarter valued at about $32,000. Accredited Wealth Management LLC acquired a new position in FedEx in the 4th quarter valued at about $35,000. Finally, Abound Financial LLC acquired a new position in FedEx in the 1st quarter valued at about $38,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
About FedEx
(
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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