Topic: How To Invest

Wall Street Stock Forecaster Hotline – Thursday, April 6, 2023

Article Excerpt

FEDEX CORP., $232.10, New York symbol FDX, remains a buy for your long-term gains. The company delivers packages in the U.S. and 220 other countries. FedEx is now re-organizing its divisions as part of a larger plan to improve efficiency. Under the plan, the FedEx Express (air freight), FedEx Ground, FedEx Services and other smaller operating companies will combine into a single division called Federal Express Corporation. FedEx Freight, which provides less-than-truckload freight transportation services, will continue to operate as a separate division. The company should complete the re-organization by June 2024. FedEx expects these moves, along with job cuts and other savings, will lower its annual costs by $4.0 billion by the end of fiscal 2025 (fiscal years end May 31). To put that goal in context, FedEx earned $865 million, or $3.41 a share, in the three months ended February 28, 2023. The company now aims to cut a further $2.0 billion from its annual costs by the end of fiscal 2027. Thanks to…