FedEx PT Raised to $155.00 (FDX)
Investment analysts at Cowen and Company boosted their price objective on shares of FedEx (NYSE:FDX) from $136.00 to $155.00 in a note issued to investors on Thursday. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price objective would indicate a potential upside of 4.06% from the stock’s previous close.
FedEx (NYSE:FDX) opened at 148.95 on Thursday. FedEx has a one year low of $94.60 and a one year high of $149.37. The stock’s 50-day moving average is $140.2 and its 200-day moving average is $137.4. The company has a market cap of $44.017 billion and a P/E ratio of 26.58.
FedEx (NYSE:FDX) last announced its earnings results on Wednesday, June 18th. The company reported $2.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.36 by $0.10. The company had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.66 billion. During the same quarter last year, the company posted $2.13 earnings per share. FedEx’s revenue was up 3.5% compared to the same quarter last year. On average, analysts predict that FedEx will post $6.67 earnings per share for the current fiscal year.
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 0.54%. The ex-dividend date is Tuesday, June 17th. This is a positive change from FedEx’s previous quarterly dividend of $0.15.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital upgraded shares of FedEx from an “underperform” rating to a “sector perform” rating in a research note on Thursday. They now have a $155.00 price target on the stock, up previously from $125.00. Separately, 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. Finally, 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. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $142.14.
FedEx Corporation (NYSE:FDX) is a holding company.
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