KeyCorp initiated coverage on shares of FedEx Corporation (NYSE:FDX) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $260.00 price target on the shipping service provider’s stock. KeyCorp also issued estimates for FedEx Corporation’s Q2 2018 earnings at $3.04 EPS, Q3 2018 earnings at $3.01 EPS, Q4 2018 earnings at $4.19 EPS, FY2018 earnings at $12.75 EPS and FY2019 earnings at $15.25 EPS.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of FedEx Corporation from a hold rating to a sell rating in a report on Tuesday. Bank of America Corporation reiterated a buy rating and issued a $247.00 price target (up previously from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. Wells Fargo & Company lifted their price target on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an outperform rating in a report on Thursday, September 21st. Stifel Nicolaus reiterated a hold rating and issued a $221.00 price target (up previously from $216.00) on shares of FedEx Corporation in a report on Wednesday, September 20th. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $229.00 price target on shares of FedEx Corporation in a report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $228.26.
FedEx Corporation (FDX) traded down 0.52% during midday trading on Tuesday, hitting $223.88. 399,683 shares of the stock were exchanged. The company’s 50 day moving average is $217.17 and its 200-day moving average is $205.79. The stock has a market cap of $60.03 billion, a PE ratio of 21.11 and a beta of 1.31. FedEx Corporation has a 1-year low of $168.00 and a 1-year high of $227.00.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to the consensus estimate 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 was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.90 EPS. On average, analysts expect that FedEx Corporation will post $12.47 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is 18.87%.
In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the transaction, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The disclosure for this sale can be found here. In the last three months, insiders sold 27,172 shares of company stock valued at $6,039,193. 8.45% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of FDX. Ray Gerald L & Associates Ltd. grew its stake in shares of FedEx Corporation by 3.9% during the 1st quarter. Ray Gerald L & Associates Ltd. now owns 20,239 shares of the shipping service provider’s stock valued at $3,950,000 after purchasing an additional 765 shares during the period. Comerica Bank grew its stake in shares of FedEx Corporation by 1.7% during the 1st quarter. Comerica Bank now owns 68,702 shares of the shipping service provider’s stock valued at $13,171,000 after purchasing an additional 1,142 shares during the period. Trust Co. of Vermont grew its stake in shares of FedEx Corporation by 7.0% during the 1st quarter. Trust Co. of Vermont now owns 14,706 shares of the shipping service provider’s stock valued at $2,869,000 after purchasing an additional 962 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of FedEx Corporation by 3.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 34,920 shares of the shipping service provider’s stock valued at $6,815,000 after purchasing an additional 1,268 shares during the period. Finally, Pictet Asset Management Ltd. grew its stake in shares of FedEx Corporation by 1.5% during the 1st quarter. Pictet Asset Management Ltd. now owns 132,869 shares of the shipping service provider’s stock valued at $25,929,000 after purchasing an additional 1,900 shares during the period. 75.89% of the stock is owned by institutional investors and hedge funds.
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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