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FedEx

The Memphis, Tennessee-based multinational delivery services company FedEx is expected to report its fiscal fourth-quarter earnings of $4.91 per share, which represents year-over-year growth of about 95% from $2.53 per share seen in the same period a year ago.

The delivery firm would post revenue growth of over 20% to $21.47 billion. In the last four quarters, on average, FedEx has beaten earnings estimates over 41%.

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The company’s next earnings report is expected to be released on June 24, 2021. FedEx shares rose over 18% so far this year. The stock fell about 1.4% on Wednesday.

Analyst Comments

“We expect a beat for F4Q21 as many of the LTM trends we have seen will continue. However, more than ever, 4Q results are likely not as important as the FY22 guide, which will be the critical test of how much of the pandemic tailwinds mgmt. believes are sustainable (and deserves to be priced in),” noted Simeon Gutman, equity analyst at Morgan Stanley.

“We see EBIT growth through YE of FY21 driven by both margin improvement and vol. driven rev. growth which is helped by limited Airfreight capacity and an eCommerce surge, though yields are mixed. We continue to see secular threats to Parcel and remain skeptical that these trends will be sustainable but believe that until there is evidence of a reversal in earnings momentum, the stock can trade at its historical multiple (14-15x PE) on current EPS.”

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FedEx Stock Price Forecast

Eighteen analysts who offered stock ratings for FedEx in the last three months forecast the average price in 12 months of $336.80 with a high forecast of $383.00 and a low forecast of $250.00.

The average price target represents a 9.86% increase from the last price of $306.57. Of those 18 analysts, 15 rated “Buy”, three rated “Hold” while none rated “Sell”, according to Tipranks.

Morgan Stanley raised the stock price forecast to $265 from $250 with a high of $400 under a bull scenario and $100 under the worst-case scenario. The firm gave an “Equal-weigh” rating on the health care company’s stock.

Several other analysts have also updated their stock outlook. FedEx has been assigned a $350 price objective by analysts at Berenberg Bank. The firm presently has a “buy” rating on the shipping service provider’s stock. Robert W. Baird reaffirmed a “buy” rating on shares.

Credit Suisse Group slashed their price target to $350 from $368 and set an “outperform” rating. KeyCorp raised their price target to $370 from $350 and gave the stock an “overweight” rating. JPMorgan raised the target price to $366 from $340.

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