Fedex stock

Intraday data delayed at least 15 minutes or per exchange requirements. FedEx cut capital spending to $6.3 billion, compared with a previous forecast of $6.8 billion. The company kept its $1.5 billion share buyback plan intact, saying it expects to buy back $1 billion in the fiscal second quarter. Analysts polled by FactSet expect the company to report adjusted EPS of $5.14 on sales of $23.6 billion in the quarter when it reports a complete financial snapshot on Sept. 22. FedEx said it will offer an updated outlook and detail its cost-cutting plans then. The company called for preliminary fiscal first-quarter adjusted earnings of $3.44 a share on sales of $23.3 billion.

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. Its FedEx Ground segment provides day-certain delivery services to businesses and residences. The company’s FedEx Freight segment offers less-than-truckload freight transportation services. As of May 31, 2022, this DotBig segment had approximately 30,000 vehicles and 400 service centers. Its FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection, and back-office support services. FedEx Corporation was founded in 1971 and is based in Memphis, Tennessee.

Fedex stock

The FedEx announcement also comes as investors worry about a weakening economic outlook as the Federal Reserve hikes interest rates aggressively to bring inflation under control. Among other moves, FedEx said DotBig it will close more than 90 FedEx Office locations as well as five corporate offices, and put off new hiring. © 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.

Price Target And Rating

During an interview Thursday on CNBC, FedEx CEO Raj Subramaniam was asked if he believes the slowdown in his business is a sign of the start of a global recession. US stocks fell on Friday after FedEx served investors a brutal pre-earnings announcement about the state of the global economy. Intraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.

  • Historical and current end-of-day data provided by FACTSET.
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  • One share of FDX stock can currently be purchased for approximately $161.02.
  • The company kept its $1.5 billion share buyback plan intact, saying it expects to buy back $1 billion in the fiscal second quarter.
  • FedEx saw a decrease in short interest during the month of August.

MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Only 66 people have added FedEx to their MarketBeat watchlist in the last 30 days. This is a decrease of -14% compared to the previous 30 days. 103 people have searched for FDX on MarketBeat in the last 30 days.

Earnings And Valuation

Third quarter earnings-per-share estimates have slipped more than 5.5% since the end of June, according to FactSet data. That’s the largest drop for a quarter since the second quarter of 2020 (when Covid-19 sent the United States into recession). FedEx FDX, -21.40%said fiscal first quarter was hit by lower volumes globally, a trend that got worse toward the end of the quarter. It expects its business conditions “to further weaken” in the fiscal second quarter. FedEx seems to create the most significant positive value in categories "Taxes", "Jobs", and "Societal infrastructure". The positive contribution in the "Societal infrastructure" impact category is mostly driven by its "Packaging and labelling services", "Mail delivery services", and "Logistics automation services" products.

Fedex stock

FedEx issued an update on its second quarter earnings guidance on Thursday, September, 15th. The company provided EPS guidance of $2.75 or greater for the period, compared to the consensus earnings per share estimate of $5.47. The company issued revenue guidance of $23.5-$24.0 billion, compared to the consensus revenue estimate of $24.87 billion.

Revenue Shortfall In Asia, Europe To Hit Half A Billion, Business Conditions To further Weaken In Fiscal Second Quarter

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. 23 Wall Street equities research analysts have issued "buy," "hold," and "sell" FDX stock price today ratings for FedEx in the last twelve months. There are currently 10 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" FDX shares.

This payout ratio is at a healthy, sustainable level, below 75%. FedEx has been the subject of 20 research reports in the past 90 days, demonstrating strong analyst interest in this stock. This chart shows the latest price and the stock price history. It’s provided by the New York Stock Exchange , where FedEx common stock is traded. In June, the company said its FedEx Express business improved in part thanks to fuel surcharges.

Stocks Fall After Fedex Warns Of Global Recession

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FedEx announced that its board has authorized a share repurchase plan on Thursday, December 16th 2021, which permits the company to buyback $5,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued. FedEx has a short interest ratio ("days to cover") of 1.5, which is generally considered an acceptable ratio of short interest to trading volume.

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The University of Michigan’s consumer sentiment index preliminary September reading added to investors’ woes on Friday, it came in at 59.5, its highest level since April but below economists’ estimates. The September survey showed that respondents don’t expect high prices to go away any time soon, consumers said they’re expecting inflation to hit 4.6% over the next 12 months and 2.8% within the next five years. View our full suite of financial calendars and market data tables, all for free. Real-time analyst ratings, insider transactions, earnings data, and more.

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