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According to FinChat data, Wall Street expects FedEx to report fiscal third-quarter earnings per share of $4.63 and revenue of $22.32 billion.
FedEx (FDX) shares have gained about 1% over the past week, ahead of the company’s earnings report, which is expected Thursday after the bell.
According to FinChat data, Wall Street expects FedEx to report fiscal third-quarter earnings per share of $4.63 and revenue of $22.32 billion. FedEx’s earnings have topped market expectations in three of the past four quarters.
This week, Citi lowered the price target on FedEx to $317 from $347 and kept a ‘Buy’ rating on the shares, according to TheFly.
The analysts noted from conversations with investors, the big debate on the stock seems to be whether FedEx will further lower its fiscal 2025 outlook for adjusted earnings per share in the range of $19 to $20, which it cut last quarter from $20 to $21.
The brokerage said that investors are seemingly fearful of the potential impact of tariffs and increasingly concerned about downside risk to consumers and industrial activity.
Citi believes investor sentiment is "heavily skewed to the downside,” according to TheFly.
JP Morgan analysts noted that results for the quarter should mostly meet expectations, although the brokerage does not expect a material update for the spin-off of FedEx Freight.
FedEx announced the separation of FedEx Freight last December and said it expects to achieve it tax-efficiently for shareholders and execute it within 18 months.
Retail sentiment on Stocktwits remained in ‘bullish’ (55/100) territory, while retail chatter was ‘high.’
One bullish trader expected the stock to hit $270 after the earnings.
FedEx shares have fallen 12.6% year-to-date (YTD).
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