FedEx (NYSE:FDX) Rating Lowered to "Hold" at Wall Street Zen
FedEx (NYSE:FDX - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.
Several other equities analysts have also weighed in on FDX. BMO Capital Markets dropped their price objective on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of FedEx in a research note on Tuesday, May 20th. UBS Group reduced their price objective on FedEx from $331.00 to $311.00 and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Finally, Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and cut their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $296.17.
Read Our Latest Stock Analysis on FedEx
Shares of NYSE:FDX opened at $220.03 on Friday. FedEx has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business's 50-day moving average is $218.75 and its 200-day moving average is $252.97. The company has a market capitalization of $52.72 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.11 and a beta of 1.36.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $3.86 earnings per share. Equities research analysts predict that FedEx will post 19.14 earnings per share for the current year.
In other news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.87% of the company's stock.
Institutional investors have recently added to or reduced their stakes in the stock. bLong Financial LLC purchased a new position in FedEx in the fourth quarter valued at about $391,000. Lodestone Wealth Management LLC purchased a new position in FedEx in the fourth quarter valued at approximately $461,000. GFS Advisors LLC purchased a new position in FedEx in the fourth quarter valued at approximately $26,855,000. U.S. Capital Wealth Advisors LLC grew its holdings in FedEx by 28.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 7,598 shares of the shipping service provider's stock valued at $2,138,000 after purchasing an additional 1,694 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in FedEx by 57.9% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,540 shares of the shipping service provider's stock worth $2,965,000 after buying an additional 3,867 shares during the last quarter. Institutional investors own 84.47% of the company's stock.
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.
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