FedEx Inventory Is Buying and selling Decrease Wednesday: What’s Going On? – FedEx (NYSE:FDX)

FedEx Company FDX shares are shifting decrease Wednesday after the corporate issued smooth steerage for the primary quarter. A number of analysts additionally bargain targets following the corporate’s fourth-quarter outcomes.

This autumn Particulars: FedEx reported adjusted earnings per share of $6.07, beating the consensus estimate of $5.87. As well as, the corporate reported gross sales of $22.20 billion, beating the consensus estimate of $21.83 billion.

Q1 Outlook: FedEx sees adjusted earnings per share of $3.40 to $4.00, versus the consensus estimate of $4.15.

Competitor United Parcel Service Inc. UPS may additionally be buying and selling decrease in sympathy with FedEx, as traders view the smooth steerage as a possible signal of broader business challenges. UPS isn’t on account of report earnings till subsequent month.

Analyst Modifications: Following the earnings report, a number of analysts issued worth goal changes.

• Citigroup analyst Ariel Rosa maintained a Purchase ranking on FedEx and lowered the worth goal from $267 to $259.
• TD Cowen analyst Jason Seidl maintained a Purchase ranking on FedEx and lowered the worth goal from $310 to $269.
• Stifel analyst J. Bruce Chan maintained a Purchase ranking on FedEx and lowered the worth goal from $329 to $315.
• Susquehanna analyst Bascome Majors maintained a Constructive ranking on FedEx and raised the worth goal from $290 to $295.
• UBS analyst Thomas Wadewitz maintained a Purchase ranking on FedEx and lowered the worth goal from $311 to $297.

See Additionally: Tremendous Micro Pc (SMCI) Inventory Is Surging At the moment: What’s Going On?

FDX Worth Motion: On the time of publication, FedEx Inventory was down 3.41% at $221.70, based on knowledge from Benzinga Professional.

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