FedEx (FDX) Releases Quarterly Earnings Results
FedEx (NYSE:FDX) announced its earnings results on Wednesday. The company reported $2.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.36 by $0.10, Analyst RN reports. The company had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.66 billion.
FedEx (NYSE:FDX) opened at 140.31 on Wednesday. FedEx has a 52-week low of $94.60 and a 52-week high of $144.99. The stock’s 50-day moving average is $140.0 and its 200-day moving average is $137.. The company has a market cap of $41.464 billion and a P/E ratio of 26.38.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Tuesday, June 17th. This is a positive change from FedEx’s previous quarterly dividend of $0.15.
A number of analysts have recently weighed in on FDX shares. Analysts at Bernstein raised their price target on shares of FedEx from $136.00 to $139.00 in a research note on Tuesday, June 3rd. On a related note, analysts at Barclays downgraded shares of FedEx from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 8th. They now have a $140.00 price target on the stock, down previously from $160.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of FedEx in a research note on Friday, April 25th. They now have a $143.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $139.81.
FedEx Corporation (NYSE:FDX) is a holding company.
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