Core Viewpoint - FedEx is expected to report fiscal Q3 2024 results on March 21, with revenue in line and earnings above street expectations, driven by marginal growth in average daily volumes and cost reduction actions [1] Revenue Expectations - FedEx's Q3 2024 revenues are estimated to be around $22.0 billion, reflecting a 1% year-over-year decline, aligning with consensus estimates [3] - The company experienced a 3% year-over-year decline in total revenues to $22.2 billion in Q2 2024, attributed to falling delivery volumes amid high inflation [3] Earnings Per Share (EPS) Projections - Adjusted EPS for Q3 FY 2024 is expected to be $3.58, higher than the consensus estimate of $3.49, and up from $3.41 in the prior-year quarter [4] - FedEx's adjusted net income in Q2 2024 was $1.0 billion, a 24% increase from $815 million in the prior-year quarter, due to cost-cutting initiatives [4] Stock Valuation and Growth Potential - FedEx's stock valuation is estimated at $284 per share, which is 11% above its current market price of $257, based on a 16x forward expected adjusted earnings of $17.57 [5] - The company is expected to benefit from market share gains and improved margins, with potential rate cuts this year likely to positively impact FDX stock [5]

Key PointsFedEx stock is in the eye of the storm as the transportation industry keeps pushing expansion readings this quarter.The couriers and messengers segment of the space got nearly 10% of all jobs in February, and Wall Street took notice.Insiders are buying, analysts are boosting, and markets see a discount they can't refuse.5 stocks we like better than FedExWall Street analysts tend not to take unnecessary risks when rating and valuing stocks. If they become overly bearish or bullish, and their predic ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Pre-market futures are into the green (a day after St. Patrick’s Day) considerably at this hour, following a week of trading that was rather atypically erratic — at or near all-time highs one day, down to multi-week lows another, finishing down to the second-worst trading week of the year. Currently, the Dow is +98 points, the S&P 500 is +43 and the Nasdaq +226 points. Apparently, market participants are expecting good things for the tech sector this week.The biggest news we expect is a new report from the ...

Wall Street analysts expect FedEx (FDX) to post quarterly earnings of $3.55 per share in its upcoming report, which indicates a year-over-year increase of 4.1%. Revenues are expected to be $22.02 billion, down 0.7% from the year-ago quarter.The current level reflects a downward revision of 0.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a company's ...

FedEx truck is seen in Santa Monica, United States on November 13, 2023. (Photo by Jakub ... [+] Porzycki/NurPhoto via Getty Images)NurPhoto via Getty ImagesGiven its better prospects, we believe UPS stock (NYSE: UPS) is a better pick than its peer — FedEx stock (NYSE: FDX). UPS trades at a higher valuation multiple of 1.4x revenues vs. 0.7x for FedEx FDX , due to its superior revenue growth, profitability, and financial position. There is more to the comparison, and in the sections below, we discuss why we ...

Nike, FedEx, Micron Technology, Housing Data, the Fed and Interest Rates, and More to Watch This Week ...

 Analyst Estimates for Q3 FY 2024 Q2 FY 2024 Q3 FY 2023  Revenue $22.02 billion $22.17 billion $22.17 billionDiluted EPS  $3.50$3.99$3.41  Net Income $879.5 million $1.01 billion$865 million  Key Metric: Average Daily Volume FedEx has reported nine straight quarters of year-over-year declines in average daily volume (ADV) of FedEx Express packages handled in the U.S. Another key metric to watch is revenue, as FedEx's revenue and ADV soared to record highs during the pandemic but have been sinking or grow ...

FedEx (FDX) ended the recent trading session at $253.29, demonstrating a -0.88% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.65%. Meanwhile, the Dow experienced a drop of 0.49%, and the technology-dominated Nasdaq saw a decrease of 0.96%.Prior to today's trading, shares of the package delivery company had gained 8.04% over the past month. This has outpaced the Transportation sector's gain of 1.47% and the S&P 500's gain of 3.27% in that time.Market participant ...

FedEx Corporation (FDX) is set to release its third-quarter fiscal 2024 (ended Feb 29, 2024) results on Mar 21, 2024, after market close.FDX has an impressive surprise record, with its earnings per share surpassing the Zacks Consensus Estimate in three of the preceding four quarters and missing the mark on the other occasion. The average beat is 12.34%.Given this backdrop, let's examine the factors that are likely to have influenced FedEx’s performance in the soon-to-be-reported quarter.Like the past few qu ...