FedEx (NYSE:FDX) Price Target Lowered to $168.00 at Credit Suisse Group

FedEx (NYSE:FDX) had its price objective reduced by Credit Suisse Group from $175.00 to $168.00 in a research report released on Wednesday, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the shipping service provider’s stock.

Several other research analysts have also weighed in on FDX. BMO Capital Markets lowered shares of FedEx from an outperform rating to a market perform rating and reduced their price objective for the stock from $190.00 to $165.00 in a research note on Wednesday. Loop Capital reduced their price objective on shares of FedEx from $262.00 to $220.00 in a research note on Wednesday, June 26th. Stifel Nicolaus lowered shares of FedEx from a buy rating to a hold rating and reduced their price objective for the stock from $185.00 to $171.00 in a research note on Wednesday. Berenberg Bank set a $175.00 price objective on shares of FedEx and gave the stock a hold rating in a research note on Friday, June 28th. Finally, Oppenheimer cut their price target on shares of FedEx from $192.00 to $176.00 and set an outperform rating on the stock in a research note on Thursday, June 27th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $175.56.

FedEx stock opened at $148.78 on Wednesday. The company’s 50 day simple moving average is $160.17 and its 200 day simple moving average is $170.42. FedEx has a fifty-two week low of $147.82 and a fifty-two week high of $250.95. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.98 and a beta of 1.69. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.39.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.12). FedEx had a return on equity of 21.15% and a net margin of 0.65%. The firm had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the business earned $3.46 EPS. The firm’s revenue was up .0% compared to the same quarter last year. As a group, analysts predict that FedEx will post 12.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, September 6th. FedEx’s dividend payout ratio is presently 16.75%.

In other news, Director Paul S. Walsh sold 4,440 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the sale, the director now owns 16,440 shares of the company’s stock, valued at $2,661,307.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now directly owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. Insiders own 8.44% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Sageworth Trust Co acquired a new position in FedEx during the second quarter worth $25,000. Evolution Wealth Advisors LLC acquired a new position in FedEx during the first quarter worth $31,000. Nelson Roberts Investment Advisors LLC acquired a new position in FedEx during the second quarter worth $34,000. Icon Wealth Partners LLC acquired a new position in FedEx during the first quarter worth $38,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in FedEx during the second quarter worth $39,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Analyst Recommendations for FedEx (NYSE:FDX)

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