FedEx (NYSE:FDX) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a research report released on Monday morning.

A number of other equities research analysts also recently issued reports on the stock. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research report on Friday, September 20th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. TD Cowen lowered their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Bernstein Bank increased their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Price Performance

Shares of NYSE FDX opened at $268.73 on Monday. The stock has a market cap of $66.13 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.06 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The firm’s 50-day simple moving average is $279.89 and its 200 day simple moving average is $274.93.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.55 EPS. As a group, research analysts anticipate that FedEx will post 19.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.05%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Hedge Funds Weigh In On FedEx

Institutional investors and hedge funds have recently made changes to their positions in the business. Central Valley Advisors LLC bought a new position in shares of FedEx during the second quarter valued at $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Sachetta LLC lifted its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of FedEx during the second quarter valued at approximately $50,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of FedEx during the second quarter valued at approximately $56,000. Institutional investors own 84.47% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.