FedEx Co. (FDX:NYE) has received a “Moderate Buy” rating from 28 brokerages that currently cover the company, according to a report. The average target price for FedEx stock over the next year, based on analysts who have updated their coverage in the past year, is $232.96.
FedEx Stock-Analyst Ratings:
In recent reports, Susquehanna raised its target price on FDX stock from $170.00 to $225.00, while Stifel Nicolaus raised its target price from $222.00 to $242.00.
Morgan Stanley also raised its target price from $130.00 to $145.00, while JPMorgan Chase & Co. increased its price target on FDX from $199.00 to $233.00.
BMO Capital Markets, on the other hand, raised its target price from $180.00 to $210.00 and gave FDX a “market perform” rating.
Hedge Funds & Institutional Holdings:
Several hedge funds have added or reduced their stakes in FDX, including Lakewood Asset Management LLC, which bought a new stake worth approximately $26,000 in the fourth quarter of 2022, and CenterStar Asset Management LLC, which acquired a new stake worth about $29,000. Institutional investors now hold 72.02% of the FedEx stock.
FedEx Stock Price Analysis:
On Thursday, FDX opened at $229.93, with a market cap of $57.79 billion. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27, and a current ratio of 1.32.
Its 50-day moving average is $209.84, and its 200-day moving average is $183.10. FDX has a P/E ratio of 19.86, a P/E/G ratio of 1.27, and a beta of 1.33. Its 52-week low is $141.92, and its 52-week high is $248.76.
Quarterly Earnings Review:
For the quarter ending March 16, 2023, FDX reported earnings per share of $3.41, beating the consensus estimate of $2.67 by $0.74. The firm had revenue of $22.17 billion during the quarter, compared to analysts’ expectations of $22.74 billion.
During the same quarter last year, FDX posted EPS of $4.59. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts predict that FDX will post earnings per share of $14.94 for the current fiscal year.
FDX Stock Dividend Update:
FDX also recently declared a quarterly dividend, paying a $1.15 dividend on Monday, April 3rd, to stockholders of record on Monday, March 13th. The ex-dividend date was Friday, March 10th. This translates to an annualized dividend of $4.60 and a dividend yield of 2.00%. FDX’s payout ratio is 39.72%.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally.
The company’s FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
FedEx Corporation was founded in 1971 and is based in Memphis, Tennessee.