Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 20, 2020

Article Excerpt

FEDEX CORP., $111.06, 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 stock jumped 19% this week on news that FedEx is starting to resume normal operations in China as that country ramps up manufacturing activity in light of the subsiding COVID-19 outbreak. The company also reported better-than-expected results for its latest quarter. In its fiscal 2020 third quarter, ended February 29, 2020, FedEx earned $371 million, or $1.41 a share. That’s nonetheless down 53.5% from $797 million, or $3.03, a year earlier. Those figures exclude costs to integrate European courier TNT Express. FedEx bought it for $4.9 billion in May 2016, and now expects to spend a total of $1.7 billion on TNT’s integration by the end of fiscal 2021. On that basis, the latest earnings beat the consensus estimate of $1.27 a share. FedEx’s revenue in the quarter gained 2.8%, to $17.49 billion from $17.01 billion, also beating the consensus…

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