FedEx Corporation (FDX) to Issue $0.50 Quarterly Dividend
FedEx Corporation (NYSE:FDX) declared a quarterly dividend on Friday, November 17th, RTT News reports. Shareholders of record on Monday, December 11th will be given a dividend of 0.50 per share by the shipping service provider on Tuesday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.92%.
FedEx Corporation has increased its dividend payment by an average of 43.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. FedEx Corporation has a payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Analysts expect FedEx Corporation to earn $15.00 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 13.3%.
FedEx Corporation (FDX) opened at $217.22 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. FedEx Corporation has a 1-year low of $182.89 and a 1-year high of $231.35. The company has a market capitalization of $57,504.27, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.37.
FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. During the same period in the prior year, the business earned $2.90 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. sell-side analysts expect that FedEx Corporation will post 12.47 earnings per share for the current year.
In related news, CEO Michael L. Ducker sold 14,964 shares of FedEx Corporation stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock worth $9,024,637 over the last 90 days. Insiders own 8.45% of the company’s stock.
A number of research analysts have commented on FDX shares. Vetr downgraded FedEx Corporation to a “sell” rating and set a $204.84 target price on the stock. in a report on Thursday, August 31st. BMO Capital Markets reissued a “buy” rating and issued a $245.00 price target on shares of FedEx Corporation in a report on Wednesday, September 6th. Zacks Investment Research downgraded FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. BidaskClub downgraded FedEx Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $247.00 price target (up previously from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $230.21.
About FedEx Corporation
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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