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”.
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.
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.