FedEx (NYSE:FDX) Rating Lowered to Market Perform at BMO Capital Markets

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FedEx (NYSE:FDX) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They presently have a $165.00 price objective on the shipping service provider’s stock, down from their previous price objective of $190.00. BMO Capital Markets’ price target suggests a potential upside of 8.23% from the stock’s current price.

FDX has been the topic of several other reports. KeyCorp reduced their price objective on FedEx from $215.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. UBS Group set a $136.00 target price on FedEx and gave the company a “sell” rating in a research note on Wednesday, June 26th. Stephens set a $210.00 target price on FedEx and gave the company a “buy” rating in a research note on Wednesday, June 26th. Citigroup cut their target price on FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, Morgan Stanley set a $131.00 target price on FedEx and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $175.96.

Shares of NYSE FDX opened at $152.45 on Wednesday. The business’s 50 day moving average is $160.65 and its two-hundred day moving average is $170.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.45 and a quick ratio of 1.39. FedEx has a 1-year low of $147.82 and a 1-year high of $250.95. The stock has a market capitalization of $45.27 billion, a P/E ratio of 9.82, a PEG ratio of 0.93 and a beta of 1.69.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). FedEx had a return on equity of 21.57% and a net margin of 0.77%. The company had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the firm earned $3.46 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx will post 14.67 earnings per share for the current fiscal year.

In related news, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the transaction, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now directly owns 16,440 shares in the company, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Sageworth Trust Co purchased a new stake in FedEx during the second quarter worth $25,000. Evolution Wealth Advisors LLC purchased a new stake in FedEx during the first quarter worth $31,000. Nelson Roberts Investment Advisors LLC purchased a new stake in FedEx during the second quarter worth $34,000. Icon Wealth Partners LLC purchased a new stake in FedEx during the first quarter worth $38,000. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in FedEx during the second quarter worth $39,000. 71.34% of the stock is currently 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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