“Reports Higher First Quarter Earnings” published on September 20, 2016, Investorplace.com published: “Why Microsoft Corporation (MSFT), Adobe Systems Incorporated (ADBE) and FedEx …” on September 21, 2016. The stock tapped a 52-week high of US$52.64 while the 12-month Consensus Price Target is US$54.5.
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Oppenheimer Holdings issued their FY2019 earnings estimates for shares of FedEx Corp.in a research report issued to clients and investors on Wednesday.
FDX has been the topic of several other reports.
FedEx Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating.
FedEx Corporation (NYSE:FDX) up 9.04% for the past 5 days, is under coverage of 23 analysts who collectively assign a buy rating on stock.
Matthew 25 Management Corp holds 7.58% of its portfolio in FDX for 178,000 shares. Shares of the two companies also have been on the rise: The price of FedEx’s stock, at about $173 on Thursday, is up from its 52-week low of $119, while UPS’ class B stock is at about $109 a share, up from its 52-week low of around $87.
Standpoint Research is a brokerage house chasing shares of FedEx Corporation (FDX), so its rating change is noteworthy.
Shares of FedEx Corp. Following the transaction, the executive vice president now directly owns 53,399 shares of the company’s stock, valued at approximately $8,784,669.49.
The express segment’s reported growth of 1% may not seem much, but recall that FedEx and UPS have both seen revenue growth held back by lower fuel surcharges (caused by lower oil prices) and unfavorable currency movements (the stronger USA dollar reduces foreign-currency earnings). The stock is now holding above its 50-day SMA of $6.81 and above its 200-day SMA of $164.58. The company has a market cap of $46.98 billion, a PE ratio of 26.12 and a beta of 1.35. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. Sales of $14.7 billion beat the $14.6 billion FactSet estimate. TNT had revenue of $1.8 billion in the first quarter. For the past 5 years, the company’s revenue has grown 5.9%, while the company’s earnings per share has grown 29.3%. The shares ended last trade at $173.86, implying that Wall Street analysts see shares climbing about 4.99 per cent in 12 months’ time.
In related news, CEO Michael L. Ducker sold 5,000 shares of the company’s stock in a transaction dated Friday, July 22nd. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares in the last quarter. Dodge & Cox increased its position in FedEx Corp.by 0.6% in the first quarter. The shares were sold at an average price of $162.63, for a total transaction of $468,699.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Apart from him being the new owner of Greenhaven, he is also known as the investor who helped the establishment of other fund managers like Chieftain Capital and Brave Warrior Capital. The stock was sold at an average price of $164.51, for a total value of $822,550.00. The disclosure for this sale can be found here. Insiders are expected to have better knowledge about the health and prospects of their company, which is why insiders’ move deserves attention.
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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 dividend release date is 2016-10-03 while ex-dividend date is 2016-09-08.
