FedEx Corporation Announces Quarterly Dividend of $1.22 (NYSE:FDX)

FedEx Corporation (NYSE:FDX) announced a quarterly dividend on Friday, August 21st. Stockholders of record on Monday, September 14th will be given a dividend of 1.22 per share by the shipping service provider on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th.

FedEx has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 years. FedEx has a dividend payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FedEx to earn $20.15 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 24.2%.

FedEx Stock Down 0.3%

Shares of NYSE:FDX opened at $325.03 on Friday. The stock’s 50-day moving average price is $319.03 and its two-hundred day moving average price is $351.53. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx has a 12-month low of $177.05 and a 12-month high of $345.36. The firm has a market cap of $76.92 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.68 and a beta of 1.30.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, research analysts forecast that FedEx will post 17.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America raised their target price on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Wall Street Zen raised FedEx to a “hold” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Wells Fargo & Company cut their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Finally, BNP Paribas Exane cut their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $350.54.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.