FedEx Corporation (NYSE:FDX) to Issue Quarterly Dividend of $1.22

FedEx Corporation (NYSE:FDX) announced a quarterly dividend on Friday, August 21st. Investors of record on Monday, September 14th will be paid a dividend of 1.22 per share by the shipping service provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, September 14th.

FedEx has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 1 years. FedEx has a dividend payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FedEx to earn $20.15 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 24.2%.

FedEx Stock Down 0.3%

FedEx stock traded down $1.01 during midday trading on Friday, reaching $325.03. The stock had a trading volume of 1,776,670 shares, compared to its average volume of 2,152,489. The stock has a market capitalization of $76.92 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. The firm’s fifty day simple moving average is $319.29 and its 200-day simple moving average is $351.72. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx has a 1-year low of $177.05 and a 1-year high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion during the quarter. As a group, analysts expect that FedEx will post 17.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent research reports. Sanford C. Bernstein set a $397.00 price objective on shares of FedEx in a research note on Wednesday, June 24th. Rothschild & Co Redburn lowered their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings upgraded FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, HSBC lowered their price target on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.