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FedEx Corporation (FDX), headquartered in Memphis, Tennessee, is a leader in transportation, e-commerce, and logistics services, offering a comprehensive range of solutions for package delivery, freight forwarding, and supply chain management. With a market cap of $70.1 billion, FedEx plays a pivotal role in the logistics sector and is known for its extensive global network and commitment to fast, reliable, and efficient services that support businesses and individuals in shipping and managing goods worldwide.
Companies valued at around $10 billion are typically classified as "large-cap stocks," and FedEx fits well into this category. Its global delivery network and innovative services make it a key player in the logistics industry, supporting businesses and individuals in efficiently managing shipping and freight needs worldwide.
FDX shares are trading 9.2% below their 52-week high of $313.84, which they hit on Jul. 16. The stock has gained 12.9% over the past three months, outperforming the broader Nasdaq Composite ($NASX), which has marginally gained over the same time frame.
In the longer term, FDX is up 12.6% on a YTD basis, and the shares have gained 11.8% over the past 52 weeks. In comparison, the Nasdaq has gained 15.9% in 2024 and rallied 25% over the past year.
To confirm its recent bullish trend, FDX has been trading above its 200-day moving average since late June. However, it is trading below the 50-day moving average since early September.
On Jun. 27, FDX shares rose more than 15% after the company reported its Q4 results. Despite a challenging macroeconomic environment, its adjusted EPS of $5.41 beat the consensus estimates of $5.34. Its revenue of $22.1 billion came in line with Wall Street estimates.
Highlighting the contrast in performance, FDX's competitor, United Parcel Service, Inc. (UPS), has underperformed both the FDX and the border index. UPS has declined 18.3% on a YTD basis.
Given the strong recent price performance, analysts are moderately optimistic about FDX's prospects. The stock has a consensus rating of "Moderate Buy" from 26 analysts in coverage. The mean price target of $322.28 reflects a 13.1% premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
