Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, September 22, 2017

Article Excerpt

FEDEX CORP., $220.00, 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 that continent after United Parcel Service. Earlier this year, a cyberattack disrupted TNT’s computer systems. As well, flooding in Texas in the wake of Hurricane Harvey also hurt FedEx’s earnings. As a result, earnings for the company’s fiscal 2018 first quarter, ended August 31, 2017, fell 10.1%, to $683 million from $760 million a year earlier. Due to more shares outstanding, per-share earnings declined 11.0%, to $2.51 from $2.82. If you factor out all unusual items, the company earned $3.32 a share in the latest quarter. That beat the consensus estimate of $3.09. Revenue in the quarter rose 4.3%, to $15.30 billion from $14.67 billion a year earlier. However, that missed the consensus forecast of $15.35 billion. Due to the cyberattack,…