Sanford C. Bernstein Increases FedEx Corp. Price Target to $122.00 (FDX)
Equities researchers at Sanford C. Bernstein increased their price objective on shares of FedEx Corp. (NYSE:FDX) from $102.00 to $122.00 in a research report issued on Thursday, Analyst Ratings Network.com reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price objective suggests a potential upside of 4.95% from the company’s current price.
A number of other firms have also recently commented on FDX. 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. Separately, 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. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of FedEx Corp. (NYSE:FDX) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $116.00 price target on the stock, up previously from $112.00.
One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $116.00.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.50% 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 has a 50-day moving average of $109.0 and a 200-day moving average of $101.. The company has a market cap of $36.987 billion and a price-to-earnings ratio of 23.68. FedEx Corp. also saw some unusual options trading on Tuesday. Traders acquired 7,226 put options on the stock. This represents an increase of 242% compared to the typical daily volume of 2,110 put options.
FedEx Corp. (NYSE:FDX) last announced its earnings results on Wednesday, September 18th. The company reported $1.53 earnings per share (EPS) 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 prior year, the company posted $1.45 earnings per share. The company’s quarterly revenue 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 declared a quarterly dividend, which is scheduled for Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, September 6th.
FedEx Corporation (NYSE:FDX) is a holding company.
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