FedEx Co. (FDX) Given Consensus Recommendation of “Buy” by Brokerages

FedEx Co. (NYSE:FDX) has been given an average recommendation of “Buy” by the twenty-three analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $285.00.

FDX has been the topic of a number of analyst reports. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Morgan Stanley set a $240.00 price target on FedEx and gave the company a “hold” rating in a report on Monday, October 22nd. Credit Suisse Group set a $307.00 price target on FedEx and gave the company a “buy” rating in a report on Tuesday, September 18th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $305.00 price target on shares of FedEx in a report on Tuesday, September 18th. Finally, Citigroup cut their price target on FedEx from $304.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, November 2nd.

NYSE:FDX opened at $224.40 on Friday. The company has a market capitalization of $60.45 billion, a PE ratio of 14.66, a P/E/G ratio of 1.04 and a beta of 1.36. FedEx has a 1 year low of $207.90 and a 1 year high of $274.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.78 by ($0.32). The business had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.65 earnings per share. Research analysts expect that FedEx will post 17.35 EPS for the current fiscal year.

In other news, Director Susan Patricia Griffith purchased 1,000 shares of the stock in a transaction on Wednesday, October 17th. The stock was bought at an average price of $225.16 per share, with a total value of $225,160.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the sale, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The disclosure for this sale can be found here. 8.45% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Palo Capital Inc. acquired a new stake in FedEx during the 3rd quarter worth about $108,000. Lenox Wealth Advisors LLC acquired a new stake in FedEx during the 3rd quarter worth about $120,000. Fortis Advisors LLC raised its stake in shares of FedEx by 278.2% during the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after buying an additional 370 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of FedEx during the 3rd quarter valued at about $134,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of FedEx during the 2nd quarter valued at about $129,000. 72.79% of the stock is owned by institutional investors.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Analyst Recommendations for FedEx (NYSE:FDX)

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