FedEx Co. (NYSE:FDX) – Equities researchers at KeyCorp decreased their FY2020 earnings per share estimates for FedEx in a note issued to investors on Tuesday, June 11th. KeyCorp analyst T. Fowler now expects that the shipping service provider will post earnings per share of $15.75 for the year, down from their prior forecast of $17.00. KeyCorp has a “Overweight” rating and a $190.00 price objective on the stock.
A number of other analysts have also issued reports on FDX. Cowen restated an “outperform” rating and issued a $237.00 price target (down previously from $242.00) on shares of FedEx in a research note on Thursday, March 14th. Raymond James dropped their price target on shares of FedEx from $235.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Barclays dropped their price target on shares of FedEx from $235.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 20th. Finally, BMO Capital Markets dropped their price target on shares of FedEx to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, March 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $202.43.
Shares of NYSE:FDX opened at $165.67 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. The firm has a market capitalization of $42.05 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.77 and a beta of 1.69. FedEx has a 12-month low of $150.68 and a 12-month high of $264.99.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). The firm had revenue of $17.01 billion for the quarter, compared to analysts’ expectations of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.72 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Berman Capital Advisors LLC bought a new stake in FedEx in the fourth quarter worth about $25,000. Cordasco Financial Network raised its position in FedEx by 181.8% in the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Covenant Multifamily Offices LLC bought a new stake in FedEx in the first quarter worth about $29,000. Evolution Wealth Advisors LLC bought a new stake in FedEx in the first quarter worth about $31,000. Finally, Advocacy Wealth Management Services LLC raised its position in FedEx by 52.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after acquiring an additional 63 shares in the last quarter. 69.45% of the stock is owned by institutional investors.
In other news, EVP Alan B. Graf, Jr. sold 27,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the completion of the transaction, the executive vice president now owns 200,320 shares of the company’s stock, valued at $34,715,456. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the transaction, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at approximately $2,837,032,888.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,650 shares of company stock valued at $34,751,470. 8.50% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Monday, June 24th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, June 21st. FedEx’s dividend payout ratio is presently 16.98%.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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