FedEx (NYSE:FDX) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research report report published on Tuesday morning.

FDX has been the subject of a number of other research reports. Raymond James cut their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Bernstein Bank raised their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Loop Capital dropped their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, Citigroup assumed coverage on shares of FedEx in a report on Wednesday, October 9th. They issued a “buy” rating and a $301.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Trading Up 1.0 %

FDX opened at $286.16 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company’s 50 day simple moving average is $275.36 and its two-hundred day simple moving average is $275.43. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The firm has a market capitalization of $69.91 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.09 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the business earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts expect that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Institutional Investors Weigh In On FedEx

Institutional investors have recently modified their holdings of the company. Evermay Wealth Management LLC lifted its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx in the third quarter valued at $31,000. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter valued at $39,000. Abound Wealth Management lifted its position in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in FedEx in the third quarter valued at $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.