FedEx (NYSE:FDX) Upgraded by BNP Paribas Exane to Outperform Rating

BNP Paribas Exane upgraded shares of FedEx (NYSE:FDX) from an underperform rating to an outperform rating in a report released on Thursday, MarketBeat Ratings reports. They currently have $270.00 price objective on the shipping service provider’s stock.

Other research analysts have also issued research reports about the stock. Citigroup decreased their price target on shares of FedEx from $267.00 to $259.00 and set a “buy” rating on the stock in a research note on Wednesday, June 25th. Stifel Nicolaus set a $315.00 target price on FedEx in a research report on Wednesday, June 25th. Stephens reissued an “overweight” rating and set a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. Sanford C. Bernstein decreased their price objective on FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a report on Friday, June 13th. Finally, Cfra Research upgraded FedEx to a “hold” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $282.46.

FedEx Stock Up 0.7%

Shares of FDX stock opened at $240.88 on Thursday. The firm’s fifty day moving average price is $222.25 and its two-hundred day moving average price is $241.65. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. FedEx has a 1 year low of $194.30 and a 1 year high of $313.84. The firm has a market capitalization of $57.71 billion, a P/E ratio of 14.27, a PEG ratio of 1.25 and a beta of 1.35.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the company earned $5.41 earnings per share. On average, equities analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.41%. This is a boost from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx’s dividend payout ratio is currently 34.36%.

Institutional Trading of FedEx

A number of hedge funds have recently added to or reduced their stakes in the stock. Regal Investment Advisors LLC boosted its holdings in shares of FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after acquiring an additional 38 shares in the last quarter. Aviso Financial Inc. raised its position in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares during the last quarter. Garner Asset Management Corp boosted its stake in shares of FedEx by 0.7% during the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock valued at $1,659,000 after purchasing an additional 41 shares in the last quarter. Curi RMB Capital LLC grew its holdings in shares of FedEx by 1.3% during the fourth quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock worth $1,017,000 after purchasing an additional 47 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its stake in shares of FedEx by 2.6% in the first quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider’s stock valued at $457,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds 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.