Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 22, 2019

Article Excerpt

FEDEX CORP., $173.99, New York symbol FDX, delivers packages in the U.S. and 220 other countries. On May 25, 2016, the company completed its $4.9 billion acquisition of TNT Express NV. That Netherlands-based courier operates across Europe. The deal makes FedEx the second-largest courier on the continent after United Parcel Service. If you exclude costs to integrate TNT and other unusual items, the company’s earnings for the fiscal 2019 third quarter, ended February 28, 2019, fell 21.6%, to $797 million from $1.02 billion a year earlier. Due to fewer shares outstanding, per-share earnings declined at a slower pace of 18.5%, to $3.03 from $3.72. That missed the consensus estimate of $3.10 a share. Revenue in the quarter rose 2.9%, to $17.01 billion from $16.53 billion a year earlier. That also fell short of the consensus forecast of $17.71 billion. Due to the slowing global economy, as well as concern over rising tariffs, FedEx’s customers are switching away from overnight air service to cheaper ground…

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