FedEx Corporation (NYSE:FDX – Get Free Report) announced a quarterly dividend on Monday, June 8th. Shareholders of record on Monday, June 22nd will be given a dividend of 1.22 per share by the shipping service provider on Tuesday, July 7th. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, June 22nd.
FedEx has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 1 years. FedEx has a dividend payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FedEx to earn $21.55 per share next year, which means the company should continue to be able to cover its $5.80 annual dividend with an expected future payout ratio of 26.9%.
FedEx Stock Performance
NYSE FDX opened at $331.79 on Wednesday. FedEx has a 1 year low of $172.88 and a 1 year high of $341.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The stock has a market capitalization of $79.17 billion, a PE ratio of 17.66, a P/E/G ratio of 1.50 and a beta of 1.28. The company’s 50 day simple moving average is $373.06 and its two-hundred day simple moving average is $341.80.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Zacks Research cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Citigroup assumed coverage on shares of FedEx in a research report on Thursday, May 21st. They set a “buy” rating and a $443.00 price objective on the stock. Wells Fargo & Company upgraded shares of FedEx from an “overweight” rating to an “overweight” rating in a research report on Wednesday, May 27th. Bank of America decreased their target price on shares of FedEx from $440.00 to $376.00 and set a “buy” rating on the stock in a research report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $372.41.
Check Out Our Latest Analysis on FedEx
FedEx Company Profile
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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