FedEx Corporation (NYSE:FDX)‘s stock had its “buy” rating reissued by research analysts at BMO Capital Markets in a report released on Wednesday. They presently have a $245.00 price target on the shipping service provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 14.67% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Vetr cut FedEx Corporation to a “sell” rating and set a $204.84 target price for the company. in a report on Thursday, August 31st. Zacks Investment Research cut FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Cowen and Company restated a “buy” rating and set a $240.00 target price on shares of FedEx Corporation in a report on Thursday, August 10th. Finally, Credit Suisse Group restated a “buy” rating and set a $237.00 target price on shares of FedEx Corporation in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the stock. FedEx Corporation presently has a consensus rating of “Buy” and a consensus price target of $221.72.
Shares of FedEx Corporation (NYSE:FDX) opened at 213.66 on Wednesday. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The stock has a market capitalization of $57.32 billion, a price-to-earnings ratio of 19.30 and a beta of 1.28. The company has a 50-day moving average of $209.45 and a 200-day moving average of $201.14.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. During the same period last year, the business posted $3.30 EPS. FedEx Corporation’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts expect that FedEx Corporation will post $13.56 EPS for the current fiscal year.
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In other FedEx Corporation news, insider Henry J. Maier sold 12,580 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $209.50, for a total transaction of $2,635,510.00. Following the transaction, the insider now owns 38,177 shares of the company’s stock, valued at $7,998,081.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the transaction, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,757 shares of company stock worth $16,447,426. 8.45% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intl Fcstone Inc. acquired a new position in FedEx Corporation during the second quarter worth approximately $320,000. M Holdings Securities Inc. acquired a new position in FedEx Corporation during the second quarter worth approximately $226,000. RNC Capital Management LLC increased its position in FedEx Corporation by 0.8% during the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock worth $434,000 after buying an additional 15 shares during the period. WFG Advisors LP increased its position in FedEx Corporation by 8.5% during the second quarter. WFG Advisors LP now owns 5,712 shares of the shipping service provider’s stock worth $1,241,000 after buying an additional 446 shares during the period. Finally, Toronto Dominion Bank increased its position in FedEx Corporation by 24.6% during the second quarter. Toronto Dominion Bank now owns 86,228 shares of the shipping service provider’s stock worth $18,738,000 after buying an additional 17,021 shares during the period. 75.86% of the stock is currently owned by 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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