FedEx (NYSE:FDX) had its target price upped by equities research analysts at BMO Capital Markets from $265.00 to $270.00 in a note issued to investors on Wednesday, December 20th, The Fly reports. The firm presently has an “outperform” rating on the shipping service provider’s stock. BMO Capital Markets’ price objective suggests a potential downside of 0.68% from the company’s current price.
Other equities research analysts also recently issued reports about the company. Citigroup reiterated a “buy” rating and issued a $235.00 target price on shares of FedEx in a report on Thursday, September 14th. Robert W. Baird reiterated a “buy” rating and issued a $235.00 target price on shares of FedEx in a report on Tuesday, September 12th. Cowen restated a “buy” rating and set a $240.00 price objective on shares of FedEx in a report on Tuesday, September 12th. Loop Capital restated a “buy” rating and set a $260.00 price objective (up previously from $250.00) on shares of FedEx in a report on Wednesday, September 20th. Finally, Oppenheimer restated a “buy” rating and set a $229.00 price objective on shares of FedEx in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the stock. FedEx presently has a consensus rating of “Buy” and an average price target of $269.95.
Shares of FedEx (NYSE FDX) opened at $271.85 on Wednesday. The firm has a market capitalization of $72,830.00, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 1.60 and a beta of 1.36. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. FedEx has a 1-year low of $182.89 and a 1-year high of $271.90.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share. equities analysts anticipate that FedEx will post 13.03 EPS for the current year.
In other FedEx news, COO David J. Bronczek sold 46,555 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. In the last three months, insiders sold 68,671 shares of company stock worth $17,137,160. Insiders own 8.45% of the company’s stock.
A number of hedge funds have recently bought and sold shares of FDX. FNY Managed Accounts LLC purchased a new position in shares of FedEx during the 1st quarter valued at $100,000. Salem Investment Counselors Inc. lifted its position in shares of FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after buying an additional 13 shares during the last quarter. Krilogy Financial LLC lifted its position in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the last quarter. Alexandria Capital LLC lifted its position in shares of FedEx by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after buying an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new position in shares of FedEx during the 3rd quarter valued at $132,000. 75.66% of the stock is currently owned by institutional investors and hedge funds.
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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