FedEx Corporation (NYSE:FDX) quarterly results are due on March 16. According to recent report published by Factset, market analysts have suggested a consensus earnings per share (EPS) estimate of $2.34 for FedEx in the coming quarter. However, the company reported a slight high EPS of $2.58 in the last quarter. The analysts are of the opinion that any downward variation in the EPS will impact negatively on FedEx share price.
The short interest of FedEx recently fell by 14.82% to 4.13 million as per a report published by financial industry regulatory authority (FINRA.) The company has an average daily trading volume of 2.35 million, which means that short sellers will need two days to cover their short positions.
The stock of the company has lost 12.88% of its market value year-to-date (YTD.) However, Dow Jones and S&P 500 Index are down by 5.95% and 6.16% in the same period, respectively. The FedEx stock is believed to be trading under-valued, as the price to earnings growth ratio of the company falls between 0-1 at 0.95. However, the company’s stock price is expected to increase shortly as there was an unexpected increase by 410 in the volume of call contracts trade on Friday, February 21. However, the company’s stock has lost 23.44% of its market value since last July.
Zacks Investment Research firm is a bit optimistic about the growth in the market price and suggests a $171.91 target price for the company’s stock. The research firm analysts are of the view that FedEx can yield better returns for its investors in the near future.
Standpoint Research recently upgraded its rating from holding to buy, for FedEx stock. According to data by FactSet, nine analysts in the market rate the company’s stock as strong buy, seven rate it buy, whereas, 12 suggest a hold rating. The analysts have given a consensus target price of $182.3 for the stock of FedEx. The company’s shares closed the day on Friday down by 1.17% at $129.8.