FedEx Corp.’s Neutral Rating Reaffirmed at Zacks (FDX)
FedEx Corp. (NYSE:FDX)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Friday, StockRatingsNetwork.com reports. They currently have a $119.00 target price on the stock. Zacks‘ target price indicates a potential upside of 4.80% from the company’s current price.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.93% on Friday, hitting $114.607. The stock had a trading volume of 655,653 shares. FedEx Corp. has a 52-week low of $85.15 and a 52-week high of $118.31. The stock’s 50-day moving average is $111.0 and its 200-day moving average is $102.5. The company has a market cap of $36.289 billion and a price-to-earnings ratio of 22.75.
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 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. On average, analysts predict that FedEx Corp. will post $6.97 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FDX. Analysts at Stifel Nicolaus downgraded shares of FedEx Corp. (NYSE:FDX) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 23rd. They noted that the move was a valuation call. Separately, analysts at Robert W. Baird raised their price target on shares of FedEx Corp. (NYSE:FDX) from $116.00 to $126.00 in a research note to investors on Thursday, September 19th. They now have an “outperform” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of FedEx Corp. (NYSE:FDX) from $95.00 to $105.00 in a research note to investors on Thursday, September 19th. They now have an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $116.67.
FedEx Corporation (NYSE:FDX) is a holding company.
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