Transportation
What to Expect When FedEx Reports After the Close
Published:
Last Updated:
FedEx Corp. (NYSE: FDX) is set to report its fiscal second-quarter financial results after the markets close on Tuesday. The consensus estimates are calling for $3.94 in earnings per share (EPS) and $17.75 billion in revenue. In the same period of last year, the company said it had $3.18 in EPS and $16.31 billion in revenue.
Earlier this quarter, the company announced that it would raise shipping rates to kick off 2019. The rate increases apply to all its subsidiaries, FedEx Express, FedEx Ground and FedEx Freight, and will be effective January 7, 2019.
FedEx Express shipping rates will increase by an average of 4.9% for U.S. domestic, U.S. export and U.S. import services.
FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 4.9%. FedEx SmartPost shipping rates also will increase.
FedEx Freight shipping rates will increase by an average of 5.9%. This rate change applies to eligible FedEx Freight shipments within the United States (including Alaska, Hawaii, Puerto Rico and the U.S. Virgin Islands), between the contiguous United States and Canada, within Canada, between the contiguous United States and Mexico, and within Mexico.
Excluding Tuesday’s move, FedEx had underperformed the broad markets, with its stock down about 24% in the past 52 weeks. In just the past six months alone, the stock was down 31%.
A few analysts weighed in on FedEx ahead of the report:
- Credit Suisse has an Outperform rating with a $263 price target.
- Morgan Stanley has an Equal Weight rating and a $230 price target.
- Merrill Lynch has a Neutral rating.
- Citigroup has a Buy rating and a $275 price target.
- JPMorgan has a Buy rating with a $286 price target.
24/7 Wall St.Shares of FedEx were last seen up about 1% at $183.80, in a 52-week range of $181.28 to $274.66. The consensus analyst price target is $273.89.
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.
Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.