FedEx Corporation (FDX) To Go Ex-Dividend on September 14th

FedEx Corporation (NYSE:FDX) declared a quarterly dividend on Friday, August 21st. Stockholders of record on Monday, September 14th will be given a dividend of 1.22 per share by the shipping service provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th.

FedEx has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. FedEx has a payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect FedEx to earn $20.15 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 24.2%.

FedEx Stock Down 0.3%

FDX stock opened at $325.03 on Friday. The firm has a market cap of $76.92 billion, a PE ratio of 17.56, a PEG ratio of 1.67 and a beta of 1.30. FedEx has a 1 year low of $177.05 and a 1 year high of $345.36. The company has a fifty day simple moving average of $319.03 and a 200 day simple moving average of $351.53. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $23.26 billion for the quarter. Sell-side analysts anticipate that FedEx will post 17.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FDX shares. Rothschild & Co Redburn decreased their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft downgraded FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Jefferies Financial Group started coverage on FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 target price for the company. BMO Capital Markets reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 24th. Finally, Citigroup initiated coverage on shares of FedEx in a research report on Wednesday, July 15th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $350.54.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.