Sanford C. Bernstein Analysts Give FedEx Corporation (FDX) a $212.00 Price Target
Sanford C. Bernstein set a $212.00 price objective on FedEx Corporation (NYSE:FDX) in a research note released on Wednesday morning. The firm currently has a hold rating on the shipping service provider’s stock.
Several other analysts have also issued reports on the stock. Vetr lowered shares of FedEx Corporation to a sell rating and set a $204.84 price target for the company. in a research report on Thursday, August 31st. J P Morgan Chase & Co upped their price target on shares of FedEx Corporation from $237.00 to $264.00 and gave the company an overweight rating in a research report on Thursday, October 12th. Credit Suisse Group restated an outperform rating and set a $233.00 price target (down from $242.00) on shares of FedEx Corporation in a research report on Friday, September 15th. Robert W. Baird restated a buy rating and set a $235.00 price target on shares of FedEx Corporation in a research report on Tuesday, September 12th. Finally, Cowen and Company restated a buy rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. FedEx Corporation has a consensus rating of Buy and a consensus price target of $230.21.
FedEx Corporation (FDX) traded down $1.91 during midday trading on Wednesday, reaching $216.00. 1,432,806 shares of the company’s stock traded hands, compared to its average volume of 1,467,227. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. FedEx Corporation has a twelve month low of $182.89 and a twelve month high of $231.35. The stock has a market capitalization of $58,430.00, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.38 and a beta of 1.37.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the previous year, the company earned $2.90 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. equities analysts expect that FedEx Corporation will post 12.47 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.93%. FedEx Corporation’s payout ratio is 18.83%.
In other news, Director Kim Jabal sold 3,980 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total transaction of $897,689.00. Following the sale, the director now owns 6,080 shares in the company, valued at $1,371,344. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the sale, the chief executive officer now owns 53,397 shares in the company, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,094 shares of company stock worth $9,024,637. Corporate insiders own 8.45% of the company’s stock.
Large investors have recently bought and sold shares of the company. Strategic Advisors LLC grew its holdings in shares of FedEx Corporation by 16.7% during the second quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after buying an additional 306 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of FedEx Corporation during the second quarter valued at approximately $435,000. Stevens Capital Management LP grew its holdings in shares of FedEx Corporation by 60.6% during the second quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock valued at $8,550,000 after buying an additional 14,845 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of FedEx Corporation by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after buying an additional 492,840 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of FedEx Corporation by 1.3% during the second quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock valued at $11,584,000 after buying an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 76.22% of the company’s stock.
FedEx Corporation Company Profile
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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