FedEx Q3 Preview: Wall Street Is Upbeat; Will A Fourth Double Beat Boost Stock Back To Record Highs?

Core Viewpoint - FedEx is expected to report strong Q3 earnings, with revenue and earnings per share estimates indicating growth compared to the previous year [2][3]. Earnings Estimates - Analysts predict FedEx will report Q3 revenue of $23.52 billion, an increase from $22.20 billion in Q3 of the previous year [2]. - Expected earnings per share for FedEx are $4.13, down from $4.51 year-over-year [3]. Analyst Ratings and Price Targets - Analysts have been increasing their price targets for FedEx stock ahead of the quarterly results, with notable adjustments from various firms [4][8]. - JPMorgan maintained a Neutral rating and raised the price target from $294 to $424 [8]. - Evercore ISI Group maintained an In-Line rating and raised the price target from $364 to $380 [8]. - TD Cowen maintained a Buy rating and raised the price target from $313 to $383 [8]. Key Items to Watch - FedEx may address tariffs and provide updates following a Supreme Court ruling during its earnings call [4]. - The recent investor day highlighted goals for premium growth, AI capabilities, and a revenue target of approximately $98 billion by 2029 [5]. - The acquisition of InPost and the spinoff of FedEx Freight, expected to be completed on June 1, are anticipated topics during the earnings call [6][7]. Stock Price Action - FedEx stock was down 1.4% to $349.74, with a year-to-date increase of 19.3% and over 40% growth in the last year [8].