FedEx Corporation (FDX) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of FedEx Corporation (NYSE:FDX) from a sell rating to a hold rating in a report published on Wednesday.
According to Zacks, “We expect high costs to hurt the company's bottom line in the second quarter of fiscal 2018, as was the case in the preceeding quarter. Costs related to the integration process of TNT Express and the increased investments at its Ground unit should hurt the bottom line. Additionally, the guidance for fiscal 2018 is disappointing. We are, however, impressed by the company's decision to reward shareholders through dividend payments and share buybacks. In June 2017, the company raised its quarterly dividend by 25%. Moreover, FedEx expects the upcoming holiday season to be a highly successful one on the back of the growing demand for e-commerce. In fact, the stock has outperformed its industry on a year-to-date basis.”
Other research analysts also recently issued research reports about the company. Stifel Nicolaus reissued a neutral rating on shares of FedEx Corporation in a research note on Wednesday, August 16th. Wells Fargo & Company increased their price target on FedEx Corporation from $235.00 to $240.00 and gave the company an outperform rating in a research note on Thursday, September 21st. Loop Capital reissued a buy rating and issued a $260.00 price target (up previously from $250.00) on shares of FedEx Corporation in a research note on Wednesday, September 20th. Cowen and Company reissued a buy rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Thursday, August 10th. Finally, UBS AG downgraded FedEx Corporation from a buy rating to a neutral rating and cut their price target for the company from $235.00 to $233.00 in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. FedEx Corporation presently has a consensus rating of Buy and an average target price of $228.56.
FedEx Corporation (NYSE FDX) traded up $0.71 during mid-day trading on Wednesday, hitting $218.15. The stock had a trading volume of 936,200 shares, compared to its average volume of 1,471,958. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. The firm has a market cap of $58,306.04, a P/E ratio of 18.26, a P/E/G ratio of 1.37 and a beta of 1.37. FedEx Corporation has a one year low of $182.11 and a one year high of $231.35.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $2.90 EPS. analysts predict that FedEx Corporation will post 12.47 EPS for the current year.
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In other news, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 53,397 shares in the company, valued at approximately $12,059,712.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the transaction, the director now owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock valued at $9,024,637 in the last 90 days. 8.45% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. FNY Managed Accounts LLC bought a new position in FedEx Corporation during the first quarter worth about $100,000. Salem Investment Counselors Inc. grew its holdings in FedEx Corporation by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in FedEx Corporation by 163.0% during the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after purchasing an additional 300 shares during the period. Cribstone Capital Management LLC grew its holdings in FedEx Corporation by 1.2% during the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after purchasing an additional 6 shares during the period. Finally, Krilogy Financial LLC grew its holdings in FedEx Corporation by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the period. Institutional investors and hedge funds own 76.27% of the company’s stock.
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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