FedEx Shares Tank On Q2 Miss: 4 Analysts Deliver Key Takeaways
Portfolio Pulse from Priya Nigam
FedEx Corp (NYSE:FDX) shares dropped after reporting Q2 earnings below expectations and lowering full-year revenue guidance. Analysts from Goldman Sachs, BMO Capital Markets, Oppenheimer, and Stephens provided insights, with varying ratings and price targets. The Express segment underperformed, while Ground/Freight showed growth. Despite the revenue miss, FedEx maintained its adjusted EPS outlook for FY24.
December 20, 2023 | 8:01 pm
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FedEx shares fell after a Q2 earnings miss and lowered revenue guidance. Analysts have mixed views but highlight challenges in the Express segment and some positives in Ground/Freight.
The negative impact on FedEx's stock price is due to the reported earnings miss and reduced revenue guidance, which are key factors investors consider. The detailed analysis by multiple analysts, despite maintaining various ratings, suggests that the market had higher expectations, especially for the Express segment. The maintained EPS outlook provides some balance, but the immediate reaction is negative.
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IMPORTANCE 90
RELEVANCE 100