FedEx (NYSE: FDX)’s stock had its “overweight” rating reiterated by equities research analysts at JPMorgan Chase in a research note issued to investors on Wednesday.
The analysts wrote, “FDX’s 3QF13 EPS report was weaker than our Street-low estimate due to a combination of the headwind from trade down in International Express and weaker-than-anticipated margin performance in Ground. The International trade down headwind is an incremental negative, but we believe the broader story of upside from its operating improvement / cost-reduction program and cyclical leverage has not changed. As a result, we favor buying FDX stock on the pullback in response to the soft 3Q report.”
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee reiterated a “buy” rating on shares of FedEx in a research note to investors on Tuesday. Separately, analysts at Barclays Capital raised their price target on shares of FedEx from $110.00 to $120.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of FedEx in a research note to investors on Tuesday, March 12th.
FedEx (NYSE: FDX) traded down 7.08% on Wednesday, hitting $98.9255. FedEx has a 1-year low of $83.80 and a 1-year high of $109.66. The stock’s 50-day moving average is currently $105.8. The company has a market cap of $31.108 billion and a price-to-earnings ratio of 17.09.
FedEx (NYSE: FDX) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $1.23 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.39 by $0.16. The company had revenue of $11.00 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the company posted $1.55 earnings per share. FedEx’s revenue was up 4.2% compared to the same quarter last year. FedEx has set its Q4 guidance at $1.90-2.10 EPS and its FY13 guidance at $6.00-6.20 EPS. Analysts expect that FedEx will post $6.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, April 1st. Shareholders of record on Monday, March 11th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Thursday, March 7th.
Operates a small package specialty air freight service in the U.S. offering door-to-door overnight delivery by operating its own integrated air-ground transportation system.
