News stories about FedEx Corporation (NYSE:FDX) have been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies negative and positive media coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. FedEx Corporation earned a news sentiment score of 0.17 on Accern’s scale. Accern also assigned media coverage about the shipping service provider an impact score of 84 out of 100, meaning that recent media coverage is very likely to have an effect on the company’s share price in the next few days.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- The Latest: FedEx cyberattack damage ‘could be material’ – Washington Post (washingtonpost.com)
- FedEx unit’s delivery service slowed by cyberattack (rssfeeds.usatoday.com)
- Why FedEx Corporation Shareholders Have Something to Worry About (fool.com)
- TNT Express facing interference with some of its systems (finance.yahoo.com)
- FedEx Is the Adult Tax Talks Need (finance.yahoo.com)
FDX has been the topic of several research analyst reports. BMO Capital Markets raised FedEx Corporation from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a research note on Monday, March 6th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and set a $209.00 price objective (up previously from $205.00) on shares of FedEx Corporation in a research note on Monday, March 6th. Zacks Investment Research raised FedEx Corporation from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. Edward Jones raised FedEx Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, March 11th. Finally, Wells Fargo & Company initiated coverage on FedEx Corporation in a research note on Monday, March 13th. They set an “outperform” rating and a $220.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company’s stock. FedEx Corporation currently has a consensus rating of “Buy” and a consensus target price of $218.55.
FedEx Corporation (NYSE:FDX) traded up 1.36% during mid-day trading on Wednesday, hitting $217.24. The company had a trading volume of 1,047,581 shares. FedEx Corporation has a 12-month low of $145.00 and a 12-month high of $217.28. The company’s 50 day moving average price is $197.70 and its 200-day moving average price is $193.04. The firm has a market capitalization of $58.87 billion, a PE ratio of 19.62 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last posted its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The company had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. During the same quarter in the prior year, the business posted $3.30 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. On average, analysts forecast that FedEx Corporation will post $13.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 22nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Tuesday, June 20th. This is a positive change from FedEx Corporation’s previous quarterly dividend of $0.40. FedEx Corporation’s dividend payout ratio is currently 18.08%.
In related news, EVP Robert B. Carter sold 24,522 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total value of $5,173,161.12. Following the sale, the executive vice president now owns 68,556 shares in the company, valued at approximately $14,462,573.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick W. Smith sold 135,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $189.02, for a total transaction of $25,517,700.00. Following the completion of the sale, the chief executive officer now owns 15,326,133 shares in the company, valued at approximately $2,896,945,659.66. The disclosure for this sale can be found here. Insiders sold a total of 225,839 shares of company stock worth $44,513,539 in the last 90 days. 8.67% of the stock is currently owned by company insiders.
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About FedEx Corporation
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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