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

FedEx Co. (NYSE:FDXGet Free Report) announced 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%. The ex-dividend date is Monday, December 9th.

FedEx has raised 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. Equities 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 Price Performance

NYSE FDX opened at $294.46 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a market cap of $71.94 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17. The business has a 50 day simple moving average of $275.40 and a 200 day simple moving average of $276.37. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company 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%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 earnings per share. Analysts anticipate that FedEx will post 19.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on FDX. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Robert W. Baird cut their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus cut their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $316.04.

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About FedEx

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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.

See Also

Dividend History for FedEx (NYSE:FDX)

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