Argus maintains FedEx Corporation [FDX] at a Buy rating with a $305 price target

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Argus maintained its FedEx Corporation [NYSE:FDX] rating to the equivalent of Buy but changed the ‎price target ‎to $305 ‎from $270, in a research note dated December 30, 2020. That figure represents ‎around a 16.61% ‎premium ‎from where the company’s shares closed on Tuesday.‎ Other analysts ‎also ‎revised their coverage, with Cowen’s analysts reiterating the shares to “an Outperform” rating in ‎a ‎research note to investors issued in mid December. Meanwhile, Cowen had maintained its rating ‎on ‎FDX to the earlier “an Outperform” rating, in a research note produced for clients December 16, ‎‎2020. ‎In addition, there was an upgrade from Barclays on December 01, 2020. The rater changed FDX ‎from ‎‎”an Equal weight” to “an Overweight”.

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Is ‎FedEx Corporation [NYSE:FDX] a Good Buy Right Now?

It should be noted that FDX ‎technical ‎indicators for short, intermediate as well as long term progress have placed an overall ‎average of 56% ‎as Buy. The average signal changed from 56% Buy in the last week and compares with ‎‎100% Buy in the ‎past month. Data from FedEx Corporation’s Trend Spotter indicated that the signals ‎were Strongest. ‎The stock current average is 3.53 million shares in the past 20 days and the short term ‎average signal ‎indicates a 50% Buy. In the last 50 days, the average trading volume was 3.03 million ‎shares while the ‎medium term average advocated for 50% Buy. The average long-term signal stands at ‎‎100% Buy and ‎the 100-day average volume stands at 3.34 million shares.‎‎

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FDX Price Performance

On Wall ‎Street, FedEx Corporation [NYSE:FDX] finished Tuesday’s ‎session down -0.52% at $261.56. The stock ‎went up to $265.45 at the same session while its lowest ‎single day price was $259.67. In the last five ‎days, it saw a fall of about -3.82%, FedEx Corporation ‎shares gained by almost 72.98% since the ‎beginning of the year. However, the share price has dropped ‎to as low as -14.43% below its one year ‎high. On 12/09/20, the company shares recorded $305.66, the ‎highest single-day price it has got to in ‎the last 52-weeks and a 52-week low was seen on 03/17/20, the ‎same year at $88.69. The company’s ‎shares have inclined by 74.21% in the past year. The 50-day SMA ‎achieved is $279.60 while the 200-day ‎SMA is $195.96. Volume dropped to 2.68 million from 3.63 million ‎in the previous session.‎‎

FedEx ‎Corporation [FDX] Valuation Measures

Notably, FedEx Corporation [FDX] stock ‎cannot be ‎classified as a good candidate in the listing of underestimated low-priced Integrated Freight ‎& Logistics ‎companies to purchase soonest possible with the prevailing 12-month PE ratio of 28.43. The ‎measure ‎means the stock is exchanging at a premium as compared to the 18.30x trailing earnings of ‎the ‎industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a ‎‎0.93 ‎PS value ratio is reported for the last one year of reported earnings. That is higher than the ‎industry ‎average of 0.92 which means FDX serve an unattractive investment opportunity compared to ‎its ‎competitors.‎‎

FDX Stock Support And Resistance Levels

On the 24-hour scale, the immediate ‎backing is ‎perceived around 259.00 level, and in case of violation of this particular level, it will cause ‎more drop to ‎‎256.45 level. On the upper level, 268.01 is still the key resistance. The stock may increase ‎to the ‎subsequent resistance at 264.78. The Relative Strength Index (RSI) pinned on the 14-day chart is ‎‎32.81, ‎implying a neutral technical stance while the MACD stands at -15.05, meaning price will decrease ‎in the ‎next trading period. Percent R indicator moved to 95.89%, implying bearish price ‎movement. ‎Stochastic %K at 3.64% suggest selling the stock.‎‎

What is the short interest in FedEx ‎Corporation?

Short interest in the FedEx Corporation ‎stock has surged, increasing by 20000.0 ‎shares to total 2.99 million shares on Dec 14, 2020. The interest ‎had seen shares on Nov 12, 2020 stand ‎at 3.01 million, data from Yahoo Finance shows. The decrease ‎of -0.67% suggests the stock saw some ‎decreased bullish sentiment. The stock’s days to cover (short ‎ratio) moved to while the shorted shares ‎account for just 1.37% of the overall float for the stock.‎‎

FedEx Corporation’s Biggest Shareholders: ‎Who Owns FedEx Corporation [FDX]?

Filings by ‎The Vanguard Group, Inc. showed that the firm ‎now holds a total of 18,576,123 shares or roughly ‎‎7.07% of the outstanding FDX shares. This means ‎their shares have reduced by -146,911 from the ‎‎18,576,123 the investor reportedly held in its prior 13-F ‎filing. With the conclusion of the sale, Dodge & ‎Cox updated stake is worth $5,033,698,604. Details in ‎the latest 13F filings reveal that PRIMECAP ‎Management Co. acquired their 2.97% stake valued at ‎‎$4,008,291,005 while BlackRock Fund Advisors ‎added theirs at $3,194,454,529. During the last quarter, ‎PRIMECAP Management Co. raised 403,600 of ‎its shares in FedEx Corporation while BlackRock Fund ‎Advisors bought 170,327 shares. The SSgA Funds ‎Management, Inc.’s holdings currently number ‎‎10,219,307 shares at $2672961938.92. According to the ‎firm’s last 13F report, T. Rowe Price Associates, ‎Inc. shares in the company at filing stood at 9,692,203 ‎shares, roughly $2,777,591,536.‎

FDX Earnings ‎Forecast For The Current Quarter

FedEx Corporation [FDX] is expected to ‎report strong earnings ‎results for the quarter ending on Feb 2021. Consensus estimates give the ‎company expected ‎revenues of $19.86B and an earnings per share of $3.33 for Feb 2021. Looking ‎further ahead, the ‎company is expected to report revenue of $19.76B at an EPS of $4.62 for May 2021. ‎The estimates ‎represent upside of 4.80% and 7.28% in the company’s revenue and earnings per share, ‎respectively, ‎on a year-on-year basis.‎‎

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FDX Earnings Estimates For ‎The Current ‎Year

For the financial year, FedEx Corporation [NYSE:FDX] is expected to bring in ‎revenue of ‎‎$79.57B. The returns are nearly $10.35 billion higher than the company’s actual revenue ‎recorded in ‎the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 17.46, higher than that ‎of FY20 by ‎‎$7.96. Estimates put this year’s earnings growth at 83.80%, 7.30% for the next, and at an ‎annual 28.14% ‎over the next 5-year period. As for sales, forecasts are for an increase of 15.00% in the ‎current fiscal ‎year and a further 4.80% over the following year.‎


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