The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.44 per share. The stock presently has an average rating of Buy and an average target price of $199.95. The company’s restructuring of the division, which included buyouts and modernization of its airfleet, helped boost the segment’s operating income by 45% to $545 million.
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Analysts were expecting per share earnings for the quarter of $2.46. Finally, Deutsche Bank decreased their price target on FedEx from $216.00 to $206.00 and set a “buy” rating on the stock in a research note on Wednesday, September 2nd. FedEx projects earnings per share for fiscal 2016 in the band of $10.60 to $11.10.
Historically, ORCL has charted a post-earnings move of 4.1% over the past eight quarters, slightly less than the 4.9% the equity’s near-term ATM straddle is now pricing in.
Transportation and logistics titan FedEx today reported solid results for the first quarter of fiscal year 2016.
In the latest quarter, ground revenue rose 29 percent but operating income was basically flat on higher costs for larger packages and self-insurance. Cigna Corp. (CI)’s weekly performance is – 0.03% and compared to their 52 week low, they are up 63.16% with a dividend yield of 0.03%. The ex-dividend date is Tuesday, September 8th.
FedEx Corporation (NYSE:FDX): The mean short term price target for FedEx Corporation (NYSE:FDX) has been established at $195.42 per share.
For the year ending May 31, FedEx singled out the so-called less-than-truckload shipping segment, a business that places goods from more than one customer on each trailer. FedEx attributed revenue gains to including results from its acquisition of GENCO, the recording of FedEx SmartPost service revenues on a gross basis compared to the previous net treatment, and higher ground revenue per package and volume.
In afternoon trading, FedEx shares were down $6.06, or 3.9 per cent, to $147.94.
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The FedEx Freight rate change applies to eligible shipments within the USA (including Alaska, Hawaii, Puerto Rico and the U.S. Virgin Islands), between the contiguous US and Canada, within Canada, between the contiguous US and Mexico, and within Mexico. FedEx Ground provides residential and business money-back guaranteed ground package delivery services. (FedEx Services) provides the Company’s other companies with sales, marketing, information technology, communications and back-office support. FDX will also charge more for FedEx Ground shipments that exceed current limits, and will be “updating certain fuel surcharge tables at FedEx Express and FedEx Ground” in early November, whatever that means for pricing.
