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 dividend on an annualized basis and a yield of 1.87%.

FedEx has increased its dividend by an average of 23.8% annually over the last three years. FedEx has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. 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

FDX stock traded up $3.03 during trading on Friday, reaching $295.32. 131,165 shares of the company were exchanged, compared to its average volume of 1,799,715. The company has a market cap of $72.15 billion, a P/E ratio of 18.16, a PEG ratio of 1.17 and a beta of 1.17. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The stock’s 50 day moving average price is $275.18 and its 200 day moving average price is $276.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last released 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 analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.55 EPS. As a group, analysts predict that FedEx will post 19.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FDX shares. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group reduced their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $215.00 to $200.00 in a report on Friday, September 20th. BMO Capital Markets reduced their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Finally, Stifel Nicolaus cut their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

About FedEx

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.