Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

FEDEX CORPORATION

(FDX)
  Report
Delayed Nyse  -  04:00 2022-11-29 pm EST
177.82 USD   +2.66%
07:54aDeutsche Bank Adjusts FedEx Price Target to $217 From $190, Maintains Buy Rating
MT
11/25MarketScreener's World Press Review: November 25, 2022
MS
11/20Factbox: Mass shootings in the U.S. from Club Q to Pulse nightclub
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies
Days
:
Hours
:
Minutes
:
Seconds

FedEx Shares Tumble Premarket After Profit Warning

09/16/2022 | 04:49am EST

By Colin Kellaher


Shares of FedEx Corp. slid 20% in premarket trading Friday after the package-delivery giant said its quarterly revenue and earnings would fall short of expectations amid declining worldwide volume.

The Memphis, Tenn., company also said it was cutting costs and pulled its full fiscal-year guidance.

Analysts at Citigroup, who last week had cut their rating on FedEx to neutral from buy and lowered their price target on the stock to $225 from $270, reduced their target to $180 after the update.

In a research note, analysts Christian Wetherbee and Elijah Winski said FedEx's preliminary fiscal first-quarter numbers were "significantly worse than we feared," and they said they have greater certainty about lower fiscal-year results.

FedEx shares, which closed Thursday at $204.87, were down to $163.99 in premarket trading. A 20% drop in regular trading would erase more than $10 billion in market capitalization.

Shares of rival United Parcel Service Inc., which closed Thursday at $185, shed 6.8% premarket.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

09-16-22 0649ET

Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. 0.72% 47.57 Delayed Quote.-21.23%
FEDEX CORPORATION 2.66% 177.82 Delayed Quote.-31.25%
All news about FEDEX CORPORATION
07:54aDeutsche Bank Adjusts FedEx Price Target to $217 From $190, Maintains Buy Rating
MT
11/25MarketScreener's World Press Review: November 25, 20..
MS
11/20Factbox: Mass shootings in the U.S. from Club Q to Pulse nightclub
RE
11/18FedEx Keeps Quarterly Dividend at $1.15 a Share, Payable Jan. 3 to Stockholders as of D..
MT
11/18FedEx Corp. Board Declares Quarterly Dividend
BU
11/18FedEx Corp. Declares Quarterly Cash Dividend, Payable on January 3, 2023
CI
11/17FEDEX : Credit Suisse reiterates its Buy rating
MD
11/16U.S. container freight is shrinking: Kemp
RE
11/16FedEx, Cart.com Form Partnership to Boost E-Commerce
MT
11/15Wealthier bargain hunters help boost Walmart
RE
More news
Analyst Recommendations on FEDEX CORPORATION
More recommendations
Financials (USD)
Sales 2023 94 686 M - -
Net income 2023 3 555 M - -
Net Debt 2023 15 968 M - -
P/E ratio 2023 13,0x
Yield 2023 2,59%
Capitalization 46 272 M 46 272 M -
EV / Sales 2023 0,66x
EV / Sales 2024 0,63x
Nbr of Employees 446 000
Free-Float 75,6%
Chart FEDEX CORPORATION
Duration : Period :
FedEx Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FEDEX CORPORATION
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 177,82 $
Average target price 196,70 $
Spread / Average Target 10,6%
EPS Revisions
Managers and Directors
Rajesh Subramaniam President, Chief Executive Officer & Director
Michael C. Lenz Chief Financial Officer & Executive Vice President
Frederick Wallace Smith Executive Chairman
Robert B. Carter Chief Information Officer & Executive VP
Susan C. Schwab Independent Director
Sector and Competitors