These Analysts Slash Their Forecasts On FedEx After Q3 Earnings

FedEx Corp. FDX posted weaker-than-expected earnings for its third-quarter results after Thursday’s closing bell.

FedEx reported quarterly earnings of $4.51 per share, which missed the analyst consensus estimate of $4.54. Quarterly revenue came in at $22.2 billion, which beat the analyst consensus estimate of $21.89 billion and is up from revenue of $21.7 billion from the same period last year.

"The FedEx team delivered improved profitability, while navigating a very challenging operating environment, including a compressed Peak season and severe weather events," said Raj Subramaniam, FedEx CEO.

FedEx said it is unable to forecast the fiscal 2025 mark-to-market retirement plans accounting adjustments and therefore, is unable to provide a fiscal 2025 earnings per share or effective tax rate outlook. The company also said it now sees fiscal 2025 revenue flat to slightly down year-over-year, compared to the prior forecast of approximately flat.

FedEx shares fell 11% to trade at $219.21 on Friday.

These analysts made changes to their price targets on FedEx following earnings announcement.

B of A Securities analyst Ken Hoexter maintained FedEx with a Buy and lowered the price target from $295 to $272.
Stifel analyst J. Bruce Chan maintained the stock with a Buy and lowered the price target from $364 to $354.
Raymond James analyst Patrick Tyler Brown maintained the stock with an Outperform rating and lowered the price target from $320 to $290.
Loop Capital analyst Rick Paterson downgraded FedEx from Hold to Sell and cut the price target from $283 to $221.
BMO Capital analyst Fadi Chamoun maintained the stock with a Market Perform and lowered the price target from $330 to $275.
Stephens & Co. analyst Daniel Imbro maintained FedEx with an Overweight rating and lowered the price target from $320 to $300.
Wells Fargo analyst Christian Wetherbee maintained the stock with an Equal-Weight rating and lowered the price target from $275 to $260.

Considering buying FDX stock? Here’s what analysts think: