FedEx Corp. (NYSE:FDX) had its target price boosted by Bank of America Corp. from $140.00 to $162.00 in a report issued on Monday, AnalystRatingsNetwork reports.
“We believe nearly 25% of FedEx’s volumes are now B2C related (led by half of Ground volumes and about a quarter of Express volumes), which will aid results. On-line sales are expected to rise 15%, to nearly $62 billion, well above the 3.9% growth of holiday sales targeted by the National Retail Federation. For F2Q14, we target FedEx to post $1.63, up 18% year-over-year.,” Bank of America Corp.’s analyst wrote.
A number of other analysts have also recently weighed in on FDX. Analysts at Wunderlich raised their price target on shares of FedEx Corp. from $120.00 to $157.00 in a research note to investors on Wednesday, November 27th. They now have a buy rating on the stock. Separately, analysts at Cowen and Company reiterated a hold rating on shares of FedEx Corp. in a research note to investors on Monday, November 25th. They now have a $136.00 price target on the stock. Finally, analysts at UBS AG downgraded shares of FedEx Corp. from an outperform rating to a market perform rating in a research note to investors on Tuesday, November 12th. They now have a $136.00 price target on the stock, up previously from $117.00. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $123.58.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.78% during mid-day trading on Monday, hitting $139.12. The stock had a trading volume of 852,871 shares. FedEx Corp. has a 52 week low of $88.02 and a 52 week high of $140.96. The stock has a 50-day moving average of $132.7 and a 200-day moving average of $112.5. The company has a market cap of $44.051 billion and a price-to-earnings ratio of 28.09.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $11.00 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter last year, the company posted $1.45 earnings per share. FedEx Corp.’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that FedEx Corp. will post $7.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, January 2nd. Investors of record on Thursday, December 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, December 10th.
FedEx Corporation (NYSE:FDX) is a holding company.
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