FedEx Corp. (NYSE: FDX) is scheduled to report its fiscal second-quarter financial results after the markets close on Wednesday. The consensus estimates from Thomson Reuters call for $2.53 in earnings per share (EPS) on $12.46 billion in revenue. The same period from the previous year had $2.16 in EPS on $11.94 billion in revenue.
The company provides transportation, e-commerce and business services in the United States and internationally. Its FedEx Express segment provides various shipping services for the delivery of packages and freight. The FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services, as well as consolidates and delivers high volumes of low-weight and less time-sensitive business-to-consumer packages. Its FedEx Freight segment offers less-than-truckload freight services, as well as freight-shipping services. This segment operates with approximately 65,000 vehicles and trailers from a network of approximately 370 service centers.
Some analysts recently noted that after underperforming for a good portion of this year, largely based on fears of slower economic growth, they now believe FedEx’s risk-reward profile is very attractive. Restructuring efforts and potential integration of TNT Express are also positives cited.
Prior to the release of the earnings report a few analysts weighed in on FedEx:
- Credit Suisse reiterated an Outperform rating and lowered the price target to $182 from $196.
- Raymond James downgraded to a Market Perform rating.
- Sanford Bernstein reiterated a Hold rating and lowered its price target to $160 from $168.
- Wolfe Research downgraded to a Market Perform rating from Outperform.
- Cowen reiterated an Outperform rating with a $90 price target.
As 2015 comes to a close, FedEx has underperformed the market with the stock down 16% year to date. Over the past 52-weeks the stock is down 18%.
Shares of FedEx were last trading at $142.93, with a consensus analyst price target of $183.63 and a 52-week trading range of $130.13 to $185.19.
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