FedEx (NYSE:FDX) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a research report sent to investors on Tuesday, ValuEngine reports.

Several other brokerages also recently issued reports on FDX. Standpoint Research upgraded FedEx from a hold rating to a buy rating in a research report on Thursday, September 19th. Stephens set a $192.00 target price on FedEx and gave the stock a buy rating in a report on Wednesday, September 18th. Berenberg Bank set a $155.00 target price on FedEx and gave the company a hold rating in a research note on Friday, October 11th. Robert W. Baird cut their price target on FedEx from $180.00 to $175.00 and set an outperform rating for the company in a report on Wednesday, September 18th. Finally, Credit Suisse Group cut their price target on FedEx from $175.00 to $168.00 and set an outperform rating for the company in a report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. FedEx has a consensus rating of Hold and a consensus target price of $170.40.

FDX stock traded down $3.25 during trading on Tuesday, hitting $152.27. 2,472,903 shares of the stock traded hands, compared to its average volume of 2,262,825. The stock has a market cap of $41.31 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 1.09 and a beta of 1.72. FedEx has a one year low of $137.78 and a one year high of $234.49. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.70. The company has a 50 day simple moving average of $152.70 and a 200 day simple moving average of $160.66.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). The firm had revenue of $17.05 billion for the quarter, compared to analyst estimates of $17.05 billion. FedEx had a return on equity of 21.15% and a net margin of 0.65%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $3.46 EPS. As a group, analysts predict that FedEx will post 12.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 9th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.60 annualized dividend and a yield of 1.71%. FedEx’s dividend payout ratio is currently 16.75%.

In related news, Director R Brad Martin bought 1,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $145.00 per share, with a total value of $145,000.00. Following the completion of the purchase, the director now owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John A. Edwardson bought 5,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was bought at an average cost of $151.75 per share, for a total transaction of $758,750.00. Following the purchase, the director now directly owns 62,966 shares of the company’s stock, valued at approximately $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Thomasville National Bank raised its holdings in FedEx by 4.9% in the second quarter. Thomasville National Bank now owns 17,154 shares of the shipping service provider’s stock worth $2,817,000 after purchasing an additional 806 shares during the period. DNB Asset Management AS raised its stake in FedEx by 6.2% during the 2nd quarter. DNB Asset Management AS now owns 40,979 shares of the shipping service provider’s stock worth $6,728,000 after buying an additional 2,395 shares during the period. Davis Rea LTD. raised its stake in FedEx by 200.3% during the 2nd quarter. Davis Rea LTD. now owns 12,823 shares of the shipping service provider’s stock worth $2,114,000 after buying an additional 8,553 shares during the period. Carroll Financial Associates Inc. lifted its holdings in FedEx by 23.1% during the second quarter. Carroll Financial Associates Inc. now owns 463 shares of the shipping service provider’s stock worth $76,000 after acquiring an additional 87 shares in the last quarter. Finally, Packer & Co Ltd lifted its holdings in FedEx by 269.9% during the second quarter. Packer & Co Ltd now owns 659,800 shares of the shipping service provider’s stock worth $29,289,000 after acquiring an additional 481,416 shares in the last quarter. Institutional investors own 70.40% of the company’s stock.

FedEx Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for FedEx (NYSE:FDX)

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