Several brokerages have updated their recommendations and price targets on shares of FedEx Corp. (NYSE: FDX) in the last few weeks:
- 9/27/2016 – FedEx Corp. was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $179.94 price target on the stock.
- 9/23/2016 – FedEx Corp. had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $185.00 price target on the stock.
- 9/22/2016 – FedEx Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “FedEx Corporation reported better-than-expected earnings and revenues in the first quarter of fiscal 2017. The top line and bottom line also improved year over year. The outperformance was supported by strong sales at the company’s express, ground and freight divisions as well as inclusion of the results of TNT Express, acquired in this May year. Including the impact of the TNT Express buyout, the company expects fiscal 2017 earnings in the band of $10.85–$11.35 per share, on an adjusted basis. We expect FedEx’s strong product portfolio to support its guidance. We are also encouraged by the company’s decision to hike its quarterly dividend payout earlier in the year. During the quarter, FedEx incurred significant costs toward TNT Express integration and Outlook restructuring program. Apart from the costs, competitive threats, legal hassles and pension headwinds are likely to pose challenges going forward.”
- 9/22/2016 – FedEx Corp. had its “buy” rating reaffirmed by analysts at Citigroup Inc..
- 9/21/2016 – FedEx Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $177.10 price target on the stock.
- 9/21/2016 – FedEx Corp. had its price target raised by analysts at Stifel Nicolaus from $179.00 to $186.00. They now have a “buy” rating on the stock.
- 9/21/2016 – FedEx Corp. was given a new $159.00 price target on by analysts at Sanford C. Bernstein. They now have a “neutral” rating on the stock.
- 9/21/2016 – FedEx Corp. had its price target raised by analysts at Oppenheimer Holdings Inc. from $180.00 to $184.00. They now have an “outperform” rating on the stock.
- 9/21/2016 – FedEx Corp. had its “top pick” rating reaffirmed by analysts at Barclays PLC.
- 9/19/2016 – FedEx Corp. had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $205.00 price target on the stock. They wrote, “The market is anticipating Tom Dooley’s strategic plan, which should signal a clear shift from the Dauman era. We continue to believe that a transaction in the NT which involves all of VIAB is unlikely, but expect the board to explore other avenues to address key concerns. Assuming the sale of a stake in Paramount is off the table for now, and that the dividend will be cut by at least 50%, the stock could come under further pressure in the NT. Looking to Remove the Interim” Title: Our assumption is that interim CEO Dooley will be named CEO by the end of the month.””
- 9/13/2016 – FedEx Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “We expect FedEx to deliver impressive first-quarter fiscal 2017 results on Sep 20 driven by strong sales at its Ground business. The company has an impressive earnings history, having outshined the Zacks Consensus Estimate in three of the last four quarters. With rival United Parcel recently announcing its decision to hike its service rates, FedEx is expected to follow suit on Sep 20. Updates on the integration process of TNT Express, which was acquired this May, will also be in focus. Even though positive on the buyout, costs related to the acquisition might hurt its first quarter results. A detailed commentary on the impact of Brexit on the company is also in the cards. With so much to look forward to, it is of little surprise that the Zacks Consensus Estimate is unchanged prior to the fiscal first-quarter release as the earnings performance of FedEx is likely to determine its future direction.”
- 8/23/2016 – FedEx Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Despite reporting better-than-expected earnings as well as revenues in the fourth quarter, FedEx’s fiscal 2017 outlook did not include the impact of the TNT Express acquisition, completed earlier in the year, disappointing investors. We expect an update on its integration process during the first-quarter fiscal 2017 conference call next month. Even though positive on the buyout, costs related to the acquisition is likely to hurt its first quarter results. Moreover, the company’s decision to hike its quarterly dividend payout is encouraging. We are, however, discouraged by the operating results at the company's freight division in the fourth-quarter fiscal 2016 which were impacted by higher salaries and costs pertaining to employee benefits. Persistent below-par performance at the segment is likely to hurt the stock. Competitive threats, legal hassles and pension headwinds also remain threats.”
- 8/8/2016 – FedEx Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $179.94 price target on the stock.
FedEx Corp. (NYSE:FDX) opened at 173.60 on Wednesday. The stock has a 50 day moving average price of $167.44 and a 200-day moving average price of $163.10. The company has a market capitalization of $46.14 billion, a PE ratio of 25.96 and a beta of 1.28. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $177.36.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company earned $14.70 billion during the quarter. During the same quarter in the previous year, the business earned $2.42 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts predict that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. FedEx Corp.’s payout ratio is currently 23.99%.
In related news, EVP Alan B. Graf, Jr. sold 7,400 shares of FedEx Corp. stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total value of $1,179,782.00. Following the completion of the transaction, the executive vice president now directly owns 150,665 shares in the company, valued at approximately $24,020,520.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Bronczek sold 32,669 shares of FedEx Corp. stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $176.30, for a total transaction of $5,759,544.70. Following the completion of the transaction, the chief executive officer now owns 85,356 shares of the company’s stock, valued at $15,048,262.80. The disclosure for this sale can be found here. Insiders own 8.67% of the company’s stock.
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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