Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, June 25, 2021

Article Excerpt

FEDEX CORP., $291.95, New York symbol FDX, remains a buy for your long-term gains. The company delivers packages in the U.S. and 220 other countries. The COVID-19 pandemic has prompted more consumers and small businesses to buy goods online instead of in physical stores. The re-opening of businesses is also spurring demand for FedEx’s services. In its fiscal 2021 fourth quarter, ended May 31, 2021, revenue jumped 30.0%, to $22.57 billion from $17.36 billion a year earlier. That beat the consensus forecast of $21.49 billion. Thanks to the higher revenue and improving efficiency, earnings in the quarter before one-time items soared 105.1%, to $1.36 billion from $663 million. Due to more shares outstanding, per-share earnings rose at a slower rate of 98.0%, to $5.01 from $2.53. That also beat the consensus estimate of $5.00. The company’s earnings should continue to improve as business activity returns to pre-pandemic levels. In fact, it now expects earnings will rise from $18.17 a share in fiscal 2021 to between…