FedEx Corp. (NYSE:FDX) was downgraded by equities research analysts at Standpoint Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, AnalystRatings.Net reports.
Shares of FedEx Corp. (NYSE:FDX) traded up 2.26% during mid-day trading on Thursday, hitting $108.40. FedEx Corp. has a 52 week low of $83.92 and a 52 week high of $109.66. The stock’s 50-day moving average is currently $101.5. The company has a market cap of $34.318 billion and a P/E ratio of 21.59.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings data on Wednesday, June 19th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.17. The company had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.44 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that FedEx Corp. will post $6.97 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse initiated coverage on shares of FedEx Corp. in a research note to investors on Monday. They set a “neutral” rating and a $108.00 price target on the stock. Separately, analysts at Wunderlich initiated coverage on shares of FedEx Corp. in a research note to investors on Friday, July 12th. They set a “buy” rating and a $120.00 price target on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of FedEx Corp. in a research note to investors on Thursday, July 11th. They set a “buy” rating on the stock.
One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. FedEx Corp. currently has an average rating of “Buy” and a consensus price target of $112.24.
In other FedEx Corp. news, Director John A. Edwardson dumped 5,339 shares of FedEx Corp. stock in a transaction that occured on Tuesday, July 23rd. The stock was sold at an average price of $106.82, for a total value of $570,311.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
FedEx Corporation (NYSE:FDX) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.