FedEx Corp. Stock Rating Lowered by Buckingham Research (FDX)
FedEx Corp. (NYSE:FDX) was downgraded by investment analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $122.00 target price on the stock, up from their previous target price of $120.00. Buckingham Research’s target price indicates a potential upside of 1.60% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of FedEx Corp. (NYSE:FDX) traded up 1.31% during mid-day trading on Wednesday, hitting $121.65. 457,627 shares of the company’s stock traded hands. FedEx Corp. has a 1-year low of $85.15 and a 1-year high of $122.50. The stock’s 50-day moving average is $112.2 and its 200-day moving average is $103.4. The company has a market cap of $38.519 billion and a P/E ratio of 24.05.
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. Analysts expect that FedEx Corp. will post $6.97 EPS for the current fiscal year.
FDX has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of FedEx Corp. in a research note to investors on Friday, October 4th. They now have a $119.00 price target on the stock. Separately, analysts at Stifel Nicolaus downgraded shares of FedEx Corp. 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. Finally, analysts at Robert W. Baird raised their price target on shares of FedEx Corp. 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. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $116.88.
FedEx Corporation (NYSE:FDX) is a holding company.
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