FedEx (NYSE:FDX) Stock Price Expected to Rise, Bank of America Analyst Says

FedEx (NYSE:FDX) had its target price lifted by Bank of America from $325.00 to $348.00 in a research report sent to investors on Friday,Benzinga reports. Bank of America currently has a buy rating on the shipping service provider’s stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company upped their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Stephens reiterated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group reduced their price objective on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Trading Down 0.1 %

Shares of FDX opened at $275.73 on Friday. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a fifty day moving average of $282.71 and a two-hundred day moving average of $281.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market capitalization of $67.37 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.99 earnings per share. As a group, analysts forecast that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.00%. FedEx’s dividend payout ratio is presently 34.05%.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently made changes to their positions in the business. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth about $31,000. Abound Wealth Management raised its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of FedEx during the third quarter worth about $47,000. Finally, Sachetta LLC grew its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.