FedEx Prepares for Q1 Earnings: Analyst Forecasts and Price Target Revisions
Anticipating FedEx's Financial Revelation: A Look Ahead to Q1 Results
FedEx's Upcoming Financial Disclosure and Market Expectations
FedEx Corporation (FDX) is scheduled to release its first-quarter financial results after the market closes on Thursday, September 18. Market analysts are closely watching, with projections for earnings per share (EPS) reaching $3.64, a modest increase from the $3.60 reported in the same period last year. Revenue is forecast to be around $21.67 billion, slightly up from $21.58 billion year-over-year, according to data compiled from financial intelligence platforms.
Recap of FedEx's Previous Quarter's Performance
In the fourth quarter, FedEx exceeded analyst expectations, reporting a total revenue of $22.2 billion against an estimated $21.84 billion. The company's adjusted earnings for the fourth quarter also surpassed forecasts, coming in at $6.07 per share, compared to analyst estimates of $5.87 per share. Following these positive results, FedEx shares saw a slight increase, closing at $227.70 on Tuesday.
Wall Street's Leading Analysts Adjust Price Targets for FedEx
Several top-tier analysts have recently updated their ratings and price targets for FedEx. Ken Hoexter from B of A Securities adjusted his rating from Buy to Neutral and lowered the price target from $245 to $240. Brian Ossenbeck of JP Morgan maintained an Overweight rating but reduced his price target from $290 to $285. UBS analyst Thomas Wadewitz kept a Buy rating, decreasing the price target from $297 to $293. Citigroup's Ariel Rosa also maintained a Buy rating, with a slight reduction in the price target from $278 to $275. Lastly, Patrick Tyler Brown from Raymond James reiterated an Outperform rating, lowering his price target from $275 to $260. These revisions reflect ongoing evaluations of the company's financial outlook and market conditions.
