FedEx Stock Is Delivering Gains Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
FedEx Corp (NYSE:FDX) shares are trading higher after reporting better-than-expected Q4 financial results and announcing a $2.5 billion stock repurchase plan. The company beat revenue and EPS estimates, with significant improvements in FedEx Ground and FedEx Freight operations. Multiple analysts raised their price targets for FedEx following the earnings report.
June 26, 2024 | 2:33 pm
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FedEx reported better-than-expected Q4 financial results, with revenue of $22.1 billion and EPS of $5.41, beating estimates. The company announced a $2.5 billion stock repurchase plan and provided a positive outlook for fiscal 2025. Multiple analysts raised their price targets for FedEx.
FedEx's better-than-expected financial results and significant stock repurchase plan are likely to boost investor confidence and drive the stock price higher in the short term. The positive outlook for fiscal 2025 and multiple analyst upgrades further support this upward momentum.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100