FedEx Co. Declares Quarterly Dividend of $1.38 (NYSE:FDX)

FedEx Co. (NYSE:FDX) declared a quarterly dividend on Friday, November 15th,RTT News reports. Shareholders of record on Monday, December 9th will be given a dividend of 1.38 per share by the shipping service provider on Friday, January 3rd. This represents a $5.52 annualized dividend and a yield of 1.87%.

FedEx has increased its dividend by an average of 23.8% per year over the last three years. FedEx has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect FedEx to earn $22.30 per share next year, which means the company should continue to be able to cover its $5.52 annual dividend with an expected future payout ratio of 24.8%.

FedEx Stock Up 0.7 %

FDX opened at $294.46 on Friday. The business’s fifty day simple moving average is $275.40 and its 200 day simple moving average is $276.27. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The firm has a market cap of $71.94 billion, a P/E ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $4.55 earnings per share. As a group, equities research analysts anticipate that FedEx will post 19.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on FDX. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Evercore ISI cut their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. cut their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.