FedEx Upgraded to “Sector Perform” by RBC Capital (FDX)
FedEx (NYSE:FDX) was upgraded by investment analysts at RBC Capital from an “underperform” rating to a “sector perform” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $155.00 target price on the stock. RBC Capital’s price objective suggests a potential upside of 4.06% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $143.74.
FedEx (NYSE:FDX) traded down 0.76% on Thursday, hitting $147.82. The stock had a trading volume of 2,561,656 shares. FedEx has a 1-year low of $94.60 and a 1-year high of $149.37. The stock has a 50-day moving average of $140.2 and a 200-day moving average of $137.4. The company has a market cap of $43.683 billion and a P/E ratio of 28.22.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Wednesday, June 18th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $2.13 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts predict that FedEx will post $8.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, June 17th. This is a positive change from FedEx’s previous quarterly dividend of $0.15.
FedEx Corporation (NYSE:FDX) is a holding company.
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