#2 - FedEx Corp. (NYSE:FDX)
FedEx Corp. (NYSE: FDX) delivered what could only be described as a disastrous earnings report on September 19. Not only did the company miss on the top and bottom lines, it issued weaker-than-expected guidance for the coming quarter. The news is not surprising. The consumer is under pressure, and that’s likely to be reflected in fewer packages being delivered this holiday season.
FDX stock tumbled approximately 15% after the report but has made up about half of that loss to close out September. Some investors may be buying the dip on a stock that has an attractive dividend — $5.52 per share annually. However, it’s also likely that investors see FedEx as a winner in air freight.
That could be driving analyst sentiment as well. In the week following the company’s earnings report, many analysts have lowered their price target on FDX stock. However, it’s worth noting that in many cases the new price target is significantly above the consensus target of $314.74, which is itself 14% higher than the stock’s current price.
About FedEx
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.
Read More - Current Price
- $294.46
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 17 Buy Ratings, 8 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $316.04 (7.3% Upside)
