Citigroup Issues Positive Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its target price increased by Citigroup from $301.00 to $331.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the shipping service provider’s stock.

FDX has been the subject of several other reports. 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 research report on Monday, September 23rd. JPMorgan Chase & Co. lowered their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. BMO Capital Markets dropped their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Susquehanna decreased their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Finally, The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 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 issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Trading Up 0.7 %

Shares of FedEx stock opened at $294.46 on Tuesday. The stock has a fifty day moving average price of $275.18 and a 200-day moving average price of $276.07. 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 firm has a market cap of $71.94 billion, a PE ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17. FedEx has a 1 year low of $234.45 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results 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 return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the company posted $4.55 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts anticipate that FedEx will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s dividend payout ratio is 34.05%.

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently modified their holdings of FDX. Czech National Bank boosted its stake in shares of FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after acquiring an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in FedEx in the 2nd quarter valued at $9,226,000. Raymond James & Associates raised its holdings in FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after acquiring an additional 31,241 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth about $22,052,000. Finally, Versor Investments LP bought a new stake in shares of FedEx in the third quarter valued at approximately $2,096,000. Institutional investors and hedge funds 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.