Fedex Corp [NYSE: FDX] surged by $4.86 during the normal trading session on while it closed the day at $264.85. The company report on March 21, 2024 at 4:08 PM that FedEx Reports Higher Third Quarter Diluted EPS of $3.51 and Adjusted Diluted EPS of $3.86.
Operating Income Up 19% Year Over Year; Up 16% on an Adjusted BasisReduces Capital Spending ForecastPlans Additional $500 Million Share Repurchase in Fourth QuarterBoard of Directors Authorizes New $5 Billion Share Repurchase ProgramNarrows Full-Year Earnings Outlook Range.
FedEx Corp. (NYSE: FDX) today reported the following consolidated results for the third quarter ended February 29 (adjusted measures exclude the items listed below):.
Fedex Corp stock has also gained 3.65% of its value over the past 7 days. However, FDX stock has declined by -5.41% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.72% and gained 4.70% year-on date.
The market cap for FDX stock reached $66.18 billion, with 251.19 million shares outstanding and 229.16 million shares in the current float. Compared to the average trading volume of 2.12M shares, FDX reached a trading volume of 4662843 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Fedex Corp [FDX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FDX shares is $295.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FDX stock is a recommendation set at 1.84. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Melius have made an estimate for Fedex Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 08, 2024. While these analysts kept the previous recommendation, TD Cowen raised their target price from $290 to $293. The new note on the price target was released on December 12, 2023, representing the official price target for Fedex Corp stock. Previously, the target price had yet another raise from $225 to $315, while Susquehanna kept a Positive rating on FDX stock.
The Average True Range (ATR) for Fedex Corp is set at 4.15, with the Price to Sales ratio for FDX stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 3.15, with the Price to Cash per share for the same quarter was set at 26.93. Price to Free Cash Flow for FDX in the course of the last twelve months was 16.14 with Quick ratio for the last quarter at 1.30.
FDX stock trade performance evaluation
Fedex Corp [FDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.65. With this latest performance, FDX shares gained by 9.71% in over the last four-week period, additionally plugging by 5.72% over the last 6 months – not to mention a rise of 20.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FDX stock in for the last two-week period is set at 73.91, with the RSI for the last a single of trading hit 81.10, and the three-weeks RSI is set at 67.63 for Fedex Corp [FDX]. The present Moving Average for the last 50 days of trading for this stock 246.78, while it was recorded at 257.59 for the last single week of trading, and 252.03 for the last 200 days.
Fedex Corp [FDX]: An insightful look at the core fundamentals
Fedex Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.34.
Earnings per share (EPS) analysis for Fedex Corp [FDX] stock
With the latest financial reports released by the company, Fedex Corp posted 3.41/share EPS, while the average EPS was predicted by analysts to be reported at 2.73/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FDX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fedex Corp go to 4.50%.
Fedex Corp [FDX]: Institutional Ownership
The top three institutional holders of FDX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FDX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FDX stock with ownership which is approximately 5.8325%.
