FedEx Corp. Price Target Increased to $105.00 by Analysts at RBC Capital (FDX)
Investment analysts at RBC Capital raised their price objective on shares of FedEx Corp. (NYSE:FDX) from $95.00 to $105.00 in a note issued to investors on Thursday, Analyst Ratings Network reports. The firm currently has an “underperform” rating on the stock. RBC Capital’s price target would indicate a potential downside of 9.68% from the company’s current price.
FDX has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein raised their price target on shares of FedEx Corp. (NYSE:FDX) from $102.00 to $122.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Argus raised their price target on shares of FedEx Corp. (NYSE:FDX) from $115.00 to $122.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of FedEx Corp. (NYSE:FDX) in a research note to investors on Thursday. They now have a $131.00 price target on the stock, up previously from $123.00.
One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $116.00.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.50% during mid-day trading on Thursday, hitting $116.83. 3,291,244 shares of the company’s stock traded hands. FedEx Corp. has a 52-week low of $83.92 and a 52-week high of $116.95. The stock’s 50-day moving average is $109.0 and its 200-day moving average is $101.. The company has a market cap of $36.987 billion and a P/E ratio of 23.68. FedEx Corp. also was the recipient of some unusual options trading on Tuesday. Traders purchased 7,226 put options on the company. This is an increase of 242% compared to the average daily volume of 2,110 put options.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $11.00 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that FedEx Corp. will post $6.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, September 6th.
FedEx Corporation (NYSE:FDX) is a holding company.
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