FedEx (NYSE:FDX) had its price target increased by equities research analysts at BMO Capital Markets from $130.00 to $150.00 in a note issued to investors on Wednesday, The Fly reports. The firm currently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 6.97% from the company’s current price.
Other research analysts have also issued reports about the company. Citigroup upped their target price on FedEx from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus reduced their target price on FedEx from $136.00 to $120.00 in a research report on Wednesday, March 18th. Oppenheimer reaffirmed a “hold” rating on shares of FedEx in a research report on Wednesday, May 6th. Credit Suisse Group upped their target price on FedEx from $121.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, June 19th. Finally, Wells Fargo & Co upped their target price on FedEx from $146.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $154.78.
FDX opened at $140.22 on Wednesday. The firm has a market cap of $35.15 billion, a price-to-earnings ratio of -100.88, a PEG ratio of 1.19 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.66. FedEx has a 12 month low of $88.69 and a 12 month high of $178.50. The stock has a fifty day moving average price of $128.84 and a 200-day moving average price of $135.86.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.26. FedEx had a positive return on equity of 17.05% and a negative net margin of 0.50%. The company had revenue of $17.36 billion for the quarter, compared to analyst estimates of $16.54 billion. During the same period in the prior year, the company posted $5.01 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts forecast that FedEx will post 8.56 EPS for the current year.
In other news, CEO Frederick W. Smith sold 155,750 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $117.71, for a total value of $18,333,332.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 8.44% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Assetmark purchased a new position in FedEx during the third quarter worth approximately $0. Berman Capital Advisors LLC purchased a new position in FedEx during the fourth quarter worth approximately $25,000. Sageworth Trust Co purchased a new position in FedEx during the second quarter worth approximately $25,000. Retirement Network boosted its position in FedEx by 76.9% during the first quarter. Retirement Network now owns 207 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 90 shares in the last quarter. Finally, NewSquare Capital LLC boosted its position in FedEx by 215.4% during the first quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 73.98% of the company’s stock.
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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