Zacks Investment Research cut shares of FedEx Corporation (NYSE:FDX) from a hold rating to a sell rating in a research report report published on Monday.
According to Zacks, “Shares of FedEx have underperformed its industry in the last three months. The stock has been hurt following recent reports of Amazon.com testing a new business-to-consumer delivery service. The company's results in the first quarter of fiscal 2018, revealed last month, were hurt by the cyberattack in June 2017. Harvey and costs related to the integration process of TNT Express also hurt the bottom line. Additionally, significant investments at the company's Ground unit are also pushing up costs. This is also pressurizing the bottom line. We are, however, impressed by the company's decision to reward shareholders through dividend payments and share buybacks. In June 2017, the company raised its quarterly dividend by 25%”
FDX has been the topic of several other research reports. Vetr lowered shares of FedEx Corporation to a sell rating and set a $204.84 price target on the stock. in a research report on Thursday, August 31st. BMO Capital Markets restated a buy rating and issued a $245.00 target price on shares of FedEx Corporation in a research report on Wednesday, September 6th. BidaskClub lowered shares of FedEx Corporation from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Bank of America Corporation restated a buy rating and issued a $247.00 target price (up previously from $240.00) on shares of FedEx Corporation in a research report on Friday, October 6th. Finally, Citigroup Inc. restated a buy rating and issued a $235.00 target price on shares of FedEx Corporation in a research report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $228.26.
FedEx Corporation (NYSE FDX) opened at 223.97 on Monday. FedEx Corporation has a 1-year low of $168.00 and a 1-year high of $227.00. The stock has a 50 day moving average of $218.93 and a 200-day moving average of $206.88. The company has a market cap of $60.06 billion, a PE ratio of 21.12 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The firm had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.90 EPS. On average, equities research analysts predict that FedEx Corporation will post $12.47 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.87%.
In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of FedEx Corporation stock in a transaction on Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,172 shares of company stock valued at $6,039,193. Insiders own 8.45% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pensionfund Sabic bought a new stake in FedEx Corporation in the third quarter valued at $2,369,000. Pensionfund DSM Netherlands bought a new stake in FedEx Corporation in the third quarter valued at $4,286,000. Neville Rodie & Shaw Inc. increased its stake in FedEx Corporation by 5.4% in the third quarter. Neville Rodie & Shaw Inc. now owns 29,072 shares of the shipping service provider’s stock valued at $6,558,000 after purchasing an additional 1,477 shares in the last quarter. Curbstone Financial Management Corp increased its stake in FedEx Corporation by 145.4% in the third quarter. Curbstone Financial Management Corp now owns 3,482 shares of the shipping service provider’s stock valued at $785,000 after purchasing an additional 2,063 shares in the last quarter. Finally, Bath Savings Trust Co bought a new stake in FedEx Corporation in the third quarter valued at $865,000. 75.88% of the stock is owned by hedge funds and other institutional investors.
FedEx Corporation Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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