Why FedEx Stock Is in the Fast Lane Today
FedEx (NYSE: FDX) delivered better-than-expected earnings and sees improvements ahead for shipping companies. Investors are pleased with the update, sending FedEx shares up 13% as of 10:30 a.m. ET.
FedEx stock came into earnings season flat for the year. Shipping companies have been battling sluggish demand through most of the year, a reflection of corporate uncertainty about the economy. FedEx has responded by cutting costs, but investors were eager to see signs of improvement.
The company earned $5.41 per share on sales of $22.1 billion in its fiscal fourth quarter ending May 31, topping Wall Street's consensus estimate of $5.35 per share on sales of $22.07 billion. FedEx also forecast fiscal 2025 earnings of between $20 and $22 per share, offering some upside to the consensus $20.91-per-share estimate.
Source Fool.com
Fedex Corp. Stock
With 57 Buy predictions and not a single Sell prediction Fedex Corp. is an absolute favorite of our community.
As a result the target price of 300 € shows a slightly positive potential of 10.66% compared to the current price of 271.1 € for Fedex Corp..
