FedEx (NYSE:FDX) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of FedEx (NYSE:FDX) from a buy rating to a hold rating in a report released on Tuesday morning.

FDX has been the subject of several other research reports. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. The Goldman Sachs Group lowered their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Evercore ISI lowered their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. UBS Group lowered their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Performance

Shares of NYSE:FDX opened at $275.45 on Tuesday. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The stock has a market capitalization of $67.30 billion, a P/E ratio of 16.99, a PEG ratio of 1.10 and a beta of 1.17. The firm has a fifty day simple moving average of $276.19 and a two-hundred day simple moving average of $275.22. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $4.55 earnings per share. On average, analysts expect that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. FedEx’s dividend payout ratio is currently 34.05%.

Institutional Investors Weigh In On FedEx

Large investors have recently modified their holdings of the business. Kovack Advisors Inc. grew its position in shares of FedEx by 186.4% in the 3rd quarter. Kovack Advisors Inc. now owns 4,222 shares of the shipping service provider’s stock worth $1,156,000 after buying an additional 2,748 shares during the last quarter. Arjuna Capital purchased a new position in shares of FedEx in the 3rd quarter worth approximately $1,571,000. Oppenheimer & Co. Inc. grew its position in shares of FedEx by 10.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,713 shares of the shipping service provider’s stock worth $3,479,000 after buying an additional 1,174 shares during the last quarter. Rossmore Private Capital grew its position in shares of FedEx by 22.7% in the 3rd quarter. Rossmore Private Capital now owns 1,619 shares of the shipping service provider’s stock worth $443,000 after buying an additional 300 shares during the last quarter. Finally, Souders Financial Advisors grew its position in shares of FedEx by 41.3% in the 3rd quarter. Souders Financial Advisors now owns 955 shares of the shipping service provider’s stock worth $261,000 after buying an additional 279 shares during the last quarter. Institutional investors 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.