FedEx: Beaten Down Stock That Deserves Patience
FedEx is set to report its Q4 fiscal year earnings on June 25th. Wall Street is expecting GAAP EPS of $5.22 on revenues of $22.15 billion. The company has been underperforming the S&P 500 this year due to a slowing global economy, higher costs, and a decline in shipping volumes. FedEx is now entering the lower end of its historical valuation range, now trading at a forward P/E ratio under 12x.
Here's Why You Should Hold on to FedEx (FDX) Stock Now
FedEx's (FDX) bottom line expands due to cost-cut efforts. However, the company's top line grapples with a weak demand scenario.
Here's Why FedEx (FDX) is a Strong Value Stock
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Why the Market Dipped But FedEx (FDX) Gained Today
FedEx (FDX) concluded the recent trading session at $249.58, signifying a +1.82% move from its prior day's close.
FedEx Corporation (FDX) CEO Raj Subramaniam presents at Bernstein's 40th Annual Strategic Decisions Conference (Transcript)
FedEx Corporation (NYSE:FDX ) Bernstein's 40th Annual Strategic Decisions Conference May 29, 2024 1:30 PM ET Company Participants Jeni Hollander - IR Raj Subramaniam - President, CEO, and Director Conference Call Participants David Vernon - Bernstein David Vernon All right. Good afternoon, everyone.
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FedEx price target lowered as analysts expect up to $1.2B in headwinds costs to offset savings
Analysts at UBS have lowered their price target on shipping and logistics company FedEx Corp (NYSE:FDX, ETR:FDX) ahead of its fiscal fourth quarter earnings report, pointing to multiple headwinds that will dampen the impact of its cost-cutting program in fiscal 2025. The analysts reduced their price target to $333 to $340 on lower earnings per share (EPS) estimates but awarded the stock a ‘Buy' rating.
FedEx price target lowered as analysts expect up to $1.2B in headwinds costs to offset savings
Analysts at UBS have lowered their price target on shipping and logistics company FedEx Corp (NYSE:FDX, ETR:FDX) ahead of its fiscal fourth quarter earnings report, pointing to multiple headwinds that will dampen the impact of its cost-cutting program in fiscal 2025. The analysts reduced their price target to $333 to $340 on lower earnings per share (EPS) estimates but awarded the stock a ‘Buy' rating.
Meridian Wealth Management LLC Acquires 218 Shares of FedEx Co. (NYSE:FDX)
Meridian Wealth Management LLC lifted its holdings in FedEx Co. (NYSE:FDX – Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,354 shares of the shipping service provider’s stock after purchasing an additional 218 shares during the period. Meridian Wealth Management LLC’s holdings in FedEx were worth $343,000 at the end of the most recent quarter. Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after purchasing an additional 59,161 shares during the last quarter. Sentry LLC purchased a new position in shares of FedEx in the 4th quarter worth approximately $1,811,748,000. FMR LLC raised its stake in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Morgan Stanley lifted its position in FedEx by 1.1% during the third quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock valued at $857,860,000 after acquiring an additional 35,085 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in FedEx by 13.6% in the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock valued at $796,042,000 after acquiring an additional 360,680 shares in the last quarter. Institutional investors own 84.47% of the company’s stock. FedEx Stock Performance Shares of FedEx stock opened at $257.25 on Monday. The business’s 50 day moving average price is $267.12 and its 200 day moving average price is $256.66. The company has a market cap of $63.30 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.21 and a beta of 1.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the previous year, the firm earned $3.41 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 17.7 EPS for the current year. FedEx declared that its Board of Directors has approved a share buyback program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued. Insider Transactions at FedEx In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the sale, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock worth $37,758,773 in the last 90 days. Insiders own 8.73% of the company’s stock. Analyst Upgrades and Downgrades FDX has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Bank of America decreased their price objective on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. BMO Capital Markets boosted their target price on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Finally, Evercore ISI lifted their price objective on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $301.33. Check Out Our Latest Stock Report on FedEx About FedEx (Free Report) FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
Why FedEx (FDX) is a Top Value Stock for the Long-Term
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