Published On: Fri, Sep 23rd, 2016

Recent Research Analysts’ Ratings Updates for FedEx Corp. (FDX)

FedEx Corp. (NYSE: FDX) recently received a number of ratings updates from brokerages and research firms:

9/22/2016 – FedEx Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “FedEx Corporation reported better-than-expected earnings and revenues in the first quarter of fiscal 2017. The top line and bottom line also improved year over year. The outperformance was supported by strong sales at the company’s express, ground and freight divisions as well as inclusion of the results of TNT Express, acquired in this May year. Including the impact of the TNT Express buyout, the company expects fiscal 2017 earnings in the band of $10.85–$11.35 per share, on an adjusted basis. We expect FedEx’s strong product portfolio to support its guidance. We are also encouraged by the company’s decision to hike its quarterly dividend payout earlier in the year. During the quarter, FedEx incurred significant costs toward TNT Express integration and Outlook restructuring program. Apart from the costs, competitive threats, legal hassles and pension headwinds are likely to pose challenges going forward.”
9/22/2016 – FedEx Corp. had its “buy” rating reaffirmed by analysts at Citigroup Inc..
9/21/2016 – FedEx Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $177.10 price target on the stock.
9/21/2016 – FedEx Corp. had its price target raised by analysts at Stifel Nicolaus from $179.00 to $186.00. They now have a “buy” rating on the stock.
9/21/2016 – FedEx Corp. was given a new $159.00 price target on by analysts at Sanford C. Bernstein. They now have a “neutral” rating on the stock.
9/21/2016 – FedEx Corp. had its price target raised by analysts at Oppenheimer Holdings Inc. from $180.00 to $184.00. They now have an “outperform” rating on the stock.
9/21/2016 – FedEx Corp. had its “top pick” rating reaffirmed by analysts at Barclays PLC.
9/19/2016 – FedEx Corp. had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $205.00 price target on the stock. They wrote, “The market is anticipating Tom Dooley’s strategic plan, which should signal a clear shift from the Dauman era. We continue to believe that a transaction in the NT which involves all of VIAB is unlikely, but expect the board to explore other avenues to address key concerns. Assuming the sale of a stake in Paramount is off the table for now, and that the dividend will be cut by at least 50%, the stock could come under further pressure in the NT. Looking to Remove the Interim” Title: Our assumption is that interim CEO Dooley will be named CEO by the end of the month.””
9/13/2016 – FedEx Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “We expect FedEx to deliver impressive first-quarter fiscal 2017 results on Sep 20 driven by strong sales at its Ground business.  The company has an impressive earnings history, having outshined the Zacks Consensus Estimate in three of the last four quarters. With rival United Parcel recently announcing its decision to hike its service rates, FedEx is expected to follow suit on Sep 20. Updates on the integration process of TNT Express, which was acquired this May, will also be in focus. Even though positive on the buyout, costs related to the acquisition might hurt its first quarter results. A detailed commentary on the impact of Brexit on the company is also in the cards. With so much to look forward to, it is of little surprise that the Zacks Consensus Estimate is unchanged prior to the fiscal first-quarter release as the earnings performance of FedEx is likely to determine its future direction.”
8/23/2016 – FedEx Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Despite reporting better-than-expected earnings as well as revenues in the fourth quarter, FedEx’s fiscal 2017 outlook did not include the impact of the TNT Express acquisition, completed earlier in the year, disappointing  investors. We expect an update on its integration process during the first-quarter fiscal 2017 conference call next month. Even though positive on the buyout, costs related to the acquisition is likely to hurt its first quarter results. Moreover, the company’s decision to hike its quarterly dividend payout is encouraging. We are, however, discouraged by the operating results at the company's freight division in the fourth-quarter fiscal 2016 which were impacted by higher salaries and costs pertaining to employee benefits. Persistent below-par performance at the segment is likely to hurt the stock. Competitive threats, legal hassles and pension headwinds also remain threats.”
8/8/2016 – FedEx Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $179.94 price target on the stock.
8/2/2016 – FedEx Corp. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $179.94 price target on the stock.
7/31/2016 – FedEx Corp. had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $110.00 price target on the stock.
7/25/2016 – FedEx Corp. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $179.94 price target on the stock.

FedEx Corp. (NYSE:FDX) opened at 174.16 on Friday. The firm has a market capitalization of $46.85 billion, a P/E ratio of 26.05 and a beta of 1.35. FedEx Corp. has a 12 month low of $119.71 and a 12 month high of $175.38. The company’s 50 day moving average price is $164.95 and its 200 day moving average price is $161.28.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 EPS. Analysts anticipate that FedEx Corp. will post $12.03 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be given a $0.40 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. FedEx Corp.’s payout ratio is 23.99%.
In other news, EVP Robert B. Carter sold 5,000 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $164.51, for a total transaction of $822,550.00. Following the transaction, the executive vice president now owns 53,399 shares in the company, valued at approximately $8,784,669.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John A. Edwardson sold 2,882 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $162.63, for a total transaction of $468,699.66. Following the transaction, the director now owns 29,090 shares in the company, valued at approximately $4,730,906.70. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company insiders.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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