FedEx Corporation (NYSE:FDX) finished Wednesday with an addition of $1.47 to close at $260.45, an upside of 0.57 percent. An average of 1,784,700 shares of common stock have been traded in the last five days. There was a fall of -$4.62 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 1,549,805 shares traded, while the 50-day average volume stands at 2,174,982.
FDX stock has increased by 0.30% in the last month. The company shares reached their 1-month lowest point of $254.43 on 07/24/23. With the stock rallying to its 52-week high on 07/31/23, shares of the company touched a low of $141.92 and a high of $270.95 in 52 weeks. It has reached a new high 29 times so far this year and achieved 50.38% or $87.25 in price. In spite of this, the price is down -3.88% from the 52-week high.
Insider Transactions
FDX stock investors should be aware that FedEx Corporation (FDX) stock had its last reported insider trading activity 35 days ago on Jul 20. In this transaction, the insider spent $1,504,474. EVP / Chief Info Officer, CARTER ROBERT B, disposed of 19,270 shares at a price of $246.00 on Jun 28. The insider now owns more than $4,740,420 worth of shares. Prior to that, CVP PRIN ACCT OFFICER Johnson Jennifer L went on to Sale 10,801 shares at $238.61 each on Jun 27. An amount of $2,577,187 was transacted.
Valuation Metrics
FedEx Corporation (FDX) has a trailing price-to-earnings (P/E) ratio of 16.78. The stock’s beta is 1.36. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.73, the price-to-book (PB) ratio at 2.51, and the price-to-cash flow ratio at 24.71.
Financial Health
The quick ratio of FedEx Corporation for the three months ended May 30 was 1.30, and the current ratio was 1.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.78 and a total debt to equity ratio of 0.79 for the quarter ending May 30. FedEx Corporation’s EBITDA margin for the year ending May 30 is 10.55%, while its operating margin for the same period stands at 5.40%. Its gross profit as reported stood at $62.46 billion compared to revenue of $90.16 billion.
Earnings Surprise
For the three-month period that ended May 30, FedEx Corporation had $20.45 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $1.54 billion in the quarter, while revenues were grew 63.72%. The analyst consensus anticipated FedEx Corporation’s latest quarter earnings to come in at $4.89 per share, but it turned out to be $4.94, a 1.00% surprise. For the quarter, EBITDA amounted to $2.69 billion. Shareholders own equity worth $251.19 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at FedEx Corporation (FDX) price momentum. RSI 9-day as of the close on 23 August was 41.16%, suggesting the stock is Neutral, with historical volatility in this time frame at 7.67%.
As of today, FDX’s price is $261.39 -1.74% or -$4.62 from its 5-day moving average. FDX is currently trading -2.86% lower than its 20-day SMA and +16.07% higher than its 100-day SMA. However, the stock’s current price level is +15.99% above the SMA50 and +68.12% above the SMA200.
The stochastic %K and %D were 17.01% and 15.94%, respectively, and the average true range (ATR) was 4.04. With the 14-day stochastic at 26.50% and the average true range at 4.25, the RSI (14) stands at 48.52%. The stock has reached -3.57 on the 9-day MACD Oscillator while the 14-day reading was at -4.35.
Analyst Ratings
Atlantic Equities launched coverage on FedEx Corporation (NYSE: FDX) in its analyst report released on June 06, 2023. The firm assigned the stock an Overweight rating. The consensus rating for FedEx Corporation (FDX) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FDX, while 12 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 15 others rate it as a “buy”.
What is FDX’s price target for the next 12 months?
Analysts predict a range of price targets between $186.00 and $300.00, with a median target of $270.00. Taking a look at these predictions, the average price target given by analysts for FedEx Corporation (FDX) stock is $266.78.
