FedEx posts flat quarterly profit, misses expectations

17 Jun 2015 | Author: | No comments yet »

FedEx (FDX) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS.

MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Wednesday reported a fiscal fourth-quarter loss of $895 million, after reporting a profit in the same period a year earlier. Investing.com – Global shipping giant FedEx (NYSE:FDX) reported weaker than expected fiscal fourth quarter earnings early Wednesday, sending its shares lower in pre-market trade. The shipping service provider reported $2.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.43 by $0.23, Marketbeat.com reports.

The company’s fourth quarter revenue totaled $12.1 billion, missing forecasts for revenue of $12.3 billion. “Fiscal 2015 was a transformative year for FedEx with outstanding financial results driving expanded long-term value for shareowners,” said Frederick W. Analysts at Deutsche Bank raised their price target on shares of FedEx from $209.00 to $216.00 and gave the company a “buy” rating in a research note on Monday. FedEx projects earnings to be $10.60 to $11.10 per diluted share for fiscal 2016, driven by continued improvement in base pricing and benefits from our profit improvement program.

Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Receive News & Ratings for FedEx Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for FedEx and related companies with MarketBeat.com’s FREE daily email newsletter.

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