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 only a change of €0.20 (0.070%) the Fedex Corp. price is nearly unchanged from yesterday.
The stock is an absolute favorite of our community with 41 Buy predictions and no Sell predictions.
With a target price of 295 € there is a slightly positive potential of 4.46% for Fedex Corp. compared to the current price of 282.4 €.

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