FedEx Corp. (FDX) Downgraded by Vetr Inc.
FedEx Corp. (NYSE:FDX) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They presently have a $177.10 target price on the shipping service provider’s stock. Vetr‘s price target would indicate a potential upside of 8.88% from the stock’s current price.
Several other research analysts have also issued reports on the company. Barclays PLC reaffirmed a “buy” rating and set a $205.00 target price on shares of FedEx Corp. in a research report on Monday. Zacks Investment Research raised FedEx Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Cowen and Company reissued a “market perform” rating and issued a $110.00 price objective on shares of FedEx Corp. in a research report on Sunday, July 31st. Wolfe Research raised FedEx Corp. from a “market perform” rating to an “outperform” rating in a research report on Friday, July 1st. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of FedEx Corp. in a research report on Wednesday, June 22nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $174.51.
FedEx Corp. (NYSE:FDX) opened at 162.65 on Wednesday. The firm has a market capitalization of $43.19 billion, a PE ratio of 24.98 and a beta of 1.35. The company’s 50-day moving average price is $164.16 and its 200 day moving average price is $161.10. FedEx Corp. has a 12 month low of $119.71 and a 12 month high of $169.57.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/fedex-corp-fdx-downgraded-by-vetr-inc.html
FedEx Corp. (NYSE:FDX) last announced its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.12. The business earned $14.70 billion during the quarter, compared to analyst estimates of $14.61 billion. FedEx Corp. had a return on equity of 20.62% and a net margin of 3.61%. FedEx Corp.’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. On average, equities research analysts predict that FedEx Corp. will post $11.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 annualized dividend and a yield of 0.98%. FedEx Corp.’s payout ratio is 24.84%.
In related news, CEO Michael L. Ducker sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $158.43, for a total value of $792,150.00. Following the transaction, the chief executive officer now owns 56,265 shares in the company, valued at $8,914,063.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alan B. Graf, Jr. sold 7,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total value of $1,179,782.00. Following the completion of the transaction, the executive vice president now owns 150,665 shares in the company, valued at approximately $24,020,520.95. The disclosure for this sale can be found here. 8.67% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Carnick & Kubik Group LLC purchased a new position in FedEx Corp. during the second quarter valued at approximately $1,066,000. Williams Jones & Associates LLC increased its position in FedEx Corp. by 10.0% in the second quarter. Williams Jones & Associates LLC now owns 122,828 shares of the shipping service provider’s stock valued at $18,643,000 after buying an additional 11,175 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in FedEx Corp. during the second quarter valued at approximately $1,530,000. Kentucky Retirement Systems purchased a new position in FedEx Corp. during the second quarter valued at approximately $3,222,000. Finally, Mason Street Advisors LLC purchased a new position in FedEx Corp. during the second quarter valued at approximately $5,103,000. Institutional investors and hedge funds own 73.82% of the company’s stock.
FedEx Corp. Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight.
Receive News & Ratings for FedEx Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corp. and related companies with MarketBeat.com's FREE daily email newsletter.