FedEx (NYSE:FDX) Lowered to Market Perform Rating by Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of FedEx (NYSE:FDX) from an outperform rating to a market perform rating in a report issued on Tuesday, Marketbeat.com reports. They currently have $316.00 price target on the shipping service provider’s stock, down from their previous price target of $337.00.

A number of other brokerages have also commented on FDX. Raymond James dropped their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Bernstein Bank lifted their price target on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Loop Capital reduced their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Stifel Nicolaus dropped their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, BMO Capital Markets reduced their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Performance

FDX stock opened at $282.85 on Tuesday. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market cap of $69.11 billion, a PE ratio of 17.45, a P/E/G ratio of 1.24 and a beta of 1.18. The business’s 50-day moving average price is $278.90 and its two-hundred day moving average price is $279.57.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the firm earned $4.55 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that FedEx will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.95%. FedEx’s dividend payout ratio is currently 34.05%.

Institutional Trading of FedEx

A number of hedge funds have recently modified their holdings of FDX. Evermay Wealth Management LLC lifted its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx in the 3rd quarter valued at $31,000. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management increased its position in FedEx by 175.9% during the 2nd 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 period. Finally, Sachetta LLC lifted its holdings in shares of FedEx by 29.1% during 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. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

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.