Earnings for coming week starting 16Sep24 - what does FedEx's earnings say about the market outlook?
Earnings Calendar (16Sep24)
Q3/2024 has started and a few interesting earnings are coming in the coming week. These include Factset, FedEx and Lennar.
Let us look into FedEx.
Observations of recent performances:
Revenue grew from $47.4 billion in 2015 to 87.6 billion in 2024. This is a decline compared to the $93.5 billion in 2022 and $90.1 billion in 2023.
The gross profit margin for the 10-year median stands at 21.3%.
The free cash flow for the 10-year median margin stands at 2.0% And the 10-year CAGR is 15.7%.
Earnings per share (EPS) has grown from $3.65 in 2015 to $17.21 in 2024. This shows good cost management. However, the best year for earnings per share is 2021 which clocked $19.45 for EPS.
The current P/E ratio is 16.2 is attractive.
More importantly, the outlook of FedEx can be a good indicator of market consumption and demand for goods & services.
Investing dot com has a “SELL” rating for the stock based on technical analysis. The stock price has gained 11.42% compared to a year ago.
Analysts’ sentiment points to a price target of $321.51 which suggests an upside of 12.27%.
The forecast for the coming earnings is $4.86 and $21.96B for its EPS and revenue respectively.
I think that FedEx is a good reference for global trade and its outlook can potentially affect the earnings much more.
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