In the most recent trading session, FedEx (FDX) closed at $274.05, indicating a +1.33% shift from the previous trading day.
FedEx Corp (NYSE:FDX) is always in focus around the holidays.
Lee opened the conversation by pointing to the timing of the cargo-plane crisis. Just as peak shipping season begins, both FedEx and UPS have had to pull aging aircraft from service following a tragic explosion.
FedEx (FDX) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
FedEx (FDX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
The latest trading day saw FedEx (FDX) settling at $264.73, representing a -1.06% change from its previous close.
Bank of America has raised its price target on FedEx Corp (NYSE:FDX, ETR:FDX) to $285 from $270, while maintaining a ‘Neutral' rating, following an investor meeting with company leadership. Shares of FedEx traded down 8.5% at $267 on Thursday, with shares down 5% in the year to date.
FedEx Corporation is in transition, with shares rebounding after cost-cutting and an earnings beat, but much optimism is already priced in. FDX's Freight spinoff, tech investments, and efficiency drives are promising, yet execution risks and industry headwinds keep upside limited. FDX stock trades at fair value, with buybacks and dividends supporting it, but investors want proof of sustained improvement post-Freight split.
Despite ongoing industry challenges, FedEx Corp told stakeholders and analysts that it has reason to be optimistic going into the holidays — it's peak shipping season. On Tuesday (Nov.
United Parcel Service and FedEx have been highlighted in this Industry Outlook article.
UPS and FedEx are grounding their fleets of McDonnell Douglas MD-11 planes, the companies said. It comes after a UPS MD-11 crashed during takeoff on Tuesday, killing at least 14 people.