FedEx Co. (NYSE:FDX) announced a quarterly dividend on Monday, June 15th, RTT News reports. Stockholders of record on Monday, June 29th will be paid a dividend of 0.65 per share by the shipping service provider on Monday, July 13th. This represents a $2.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, June 26th.
FedEx has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect FedEx to earn $9.54 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 27.3%.
FDX opened at $139.07 on Thursday. The company has a fifty day moving average price of $127.02 and a 200-day moving average price of $136.55. The firm has a market capitalization of $36.33 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.21 and a quick ratio of 1.16. FedEx has a one year low of $88.69 and a one year high of $178.50.
A number of equities research analysts have weighed in on FDX shares. Stifel Nicolaus cut their price objective on shares of FedEx from $136.00 to $120.00 in a report on Wednesday, March 18th. ValuEngine cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Wells Fargo & Co increased their price target on shares of FedEx from $146.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Raymond James dropped their target price on shares of FedEx from $167.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, March 18th. Finally, Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating and set a $135.00 price target on the stock. in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $151.17.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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