Dividend Daily RSS Feed RSS
Dividend Stocks

The Dividend Daily

Dividend stocks - News, notes, updates, and analysis, delivered fresh daily

FedEx’s Earnings Estimates Increased at Morgan Stanley (FDX)

By Dividend.com Staff
November 10th, 2009

fedexs-earnings-estimates-increased-at-morgan-stanley-fdx

Package delivery giant FedEx Corporation (FDX) saw its earnings estimates raised by analysts at Morgan Stanley on Tuesday.

The analyst boosted its earnings estimates for FDX through 2012, citing benefits from a GDP recovery, as well as strengthening demand in Asian and a weakening dollar. Morgan currently rates the stock as “Equal-weight.”

FedEx shares rose 46 cents, or +0.6%, in morning trading Tuesday.

The Bottom Line
We removed shares of FDX back on Oct. 1, when the stock was trading at $75.22. The company has a .54% dividend yield, based on last night’s closing stock price of $81.22. The stock has technical support in the $74-$75 price area. If the shares can firm up, we see overhead resistance around the $83-$87 price levels. We would remain on the sidelines for now.

FedEx Corporation (FDX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Comments on this Article COMMENTS ON THIS ARTICLE

Leave a Reply

Your Comments:

Please type the Security Words below:

About This Article ABOUT THIS ARTICLE

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.