FedEx (FDX) Lowered to “Neutral” at JPMorgan Chase & Co.

Share on StockTwits

JPMorgan Chase & Co. cut shares of FedEx (NYSE:FDX) from an overweight rating to a neutral rating in a report published on Wednesday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $202.00 target price on the shipping service provider’s stock, down from their prior target price of $227.00.

A number of other research analysts have also weighed in on the stock. Berenberg Bank reaffirmed a buy rating and issued a $245.00 price target on shares of FedEx in a research note on Monday, January 7th. Robert W. Baird decreased their price target on shares of FedEx from $225.00 to $200.00 and set an outperform rating on the stock in a research note on Wednesday, December 19th. ValuEngine raised shares of FedEx from a strong sell rating to a sell rating in a research note on Wednesday, December 26th. UBS Group decreased their price target on shares of FedEx from $234.00 to $200.00 and set an outperform rating on the stock in a research note on Thursday, January 10th. Finally, Morgan Stanley decreased their price target on shares of FedEx from $240.00 to $230.00 and set an equal weight rating on the stock in a research note on Tuesday, December 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. FedEx currently has a consensus rating of Buy and an average target price of $218.45.

Shares of FedEx stock opened at $173.99 on Wednesday. The stock has a market capitalization of $45.34 billion, a P/E ratio of 11.36, a P/E/G ratio of 0.88 and a beta of 1.63. FedEx has a twelve month low of $150.94 and a twelve month high of $266.67. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.36 and a current ratio of 1.46.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). The company had revenue of $17.01 billion during the quarter, compared to analysts’ expectations of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.72 earnings per share. Sell-side analysts forecast that FedEx will post 15.52 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 16.98%.

In other FedEx news, VP John L. Merino sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $182.24, for a total value of $419,152.00. Following the transaction, the vice president now directly owns 30,185 shares of the company’s stock, valued at approximately $5,500,914.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the completion of the transaction, the executive vice president now directly owns 200,320 shares in the company, valued at $34,715,456. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Elite Wealth Management Inc. increased its holdings in shares of FedEx by 1.9% during the 4th quarter. Elite Wealth Management Inc. now owns 3,191 shares of the shipping service provider’s stock worth $515,000 after buying an additional 61 shares during the last quarter. Legacy Financial Advisors Inc. increased its holdings in shares of FedEx by 17.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 423 shares of the shipping service provider’s stock worth $68,000 after buying an additional 63 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of FedEx by 2.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,423 shares of the shipping service provider’s stock worth $583,000 after buying an additional 64 shares during the last quarter. Central Bank & Trust Co. increased its holdings in shares of FedEx by 0.9% during the 4th quarter. Central Bank & Trust Co. now owns 8,402 shares of the shipping service provider’s stock worth $1,355,000 after buying an additional 74 shares during the last quarter. Finally, LS Investment Advisors LLC increased its holdings in shares of FedEx by 1.3% during the 4th quarter. LS Investment Advisors LLC now owns 5,801 shares of the shipping service provider’s stock worth $936,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.

About FedEx

FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.

Further Reading: Trading Penny Stocks

Analyst Recommendations for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Desjardins Comments on TFI International Inc.’s FY2019 Earnings
Desjardins Comments on TFI International Inc.’s FY2019 Earnings
BP plc  Stake Lessened by Sterling Investment Management Inc.
BP plc Stake Lessened by Sterling Investment Management Inc.
Valero Energy Co.  Shares Sold by Canandaigua National Bank & Trust Co.
Valero Energy Co. Shares Sold by Canandaigua National Bank & Trust Co.
Wright Investors Service Inc. Has $872,000 Position in BlackRock, Inc.
Wright Investors Service Inc. Has $872,000 Position in BlackRock, Inc.
Peoples Utah Bancorp  Director Sells $38,431.25 in Stock
Peoples Utah Bancorp Director Sells $38,431.25 in Stock
EnLink Midstream LLC Expected to Earn FY2021 Earnings of $0.41 Per Share
EnLink Midstream LLC Expected to Earn FY2021 Earnings of $0.41 Per Share


© 2006-2019 Ticker Report