FedEx Stock Shares Take A Dip After Earnings Release
Ticker.tv News | Jun 22, 2016 08:24AM ET
FedEx Corp. (NYSE:FDX)h3 FedEx Earnings and Technicals/h3
After the close on Tuesday, FedEx Corp. (FDX) announced fourth quarter earnings that came in slightly lower than expected, and as a result shares took a slight dip in the post market session.
The company announced adjusted fourth quarter earnings of $3.16 per share on $13 billion while analysts were looking for $3.28 per share on $12.77 billion in revenues. FDX also announced guidance for fiscal 2017 in the range of $11.75 to 12.25, and currently analysts have an average price target of $178.60.
Looking at the chart you will see that shares took a dip in the post-market session to lows of $158.50 after closing the day at $163.95, equaling a 3.3% drop in value. We should see some support come in at $157.50 followed by $154.08 and $151.75, where the 200-day moving average currently sits. Resistance will be met at $160, $162.50 and $164.
Shares are currently well above their 200-day moving average at $151.75, and as long as they can hold that important level I still like this chart to the long side. Look for this to be an active stock on Wednesday, with increased volatility and range.
h3 CEO Comments/h3h3 FDX Profile/h3“Fiscal 2016 was a successful year for FedEx in many ways,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “Of particular note was our corporate operating margin improvement. Our May 25 acquisition of TNT Express capped a historic year of significant accomplishments that benefited shareowners, team members and customers, and strongly positions FedEx for long-term profitable growth.”
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; international trade advisory services, such as assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as global trade data, an information tool that allows customers to track and manage imports. This segment also publishes customs duty and tax information in various customs areas; and offers supply chain solutions, including critical inventory logistics, transportation management, and temperature-controlled transportation services.
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Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers high volumes of low-weight and less time-sensitive business-to-consumer packages. The company’s FedEx Freight segment offers less-than-truckload freight services, as well as freight-shipping services. As of May 31, 2015, this segment operated approximately 65,000 vehicles and trailers from a network of approximately 370 service centers. Its FedEx Services segment provides sales, marketing, information technology, communications, customer service, and other back-office support services; Web-enabled mobile devices, which allows customers to track the status of packages, create shipping labels, get account-specific rate quotes, and access drop-off location information; access to copying and digital printing through retail and Web-based platforms, signs and graphics, professional finishing, computer rentals, and a range of ground shipping and time-definite express shipping services; and packing services, and packing supplies and boxes. The company was founded in 1971 and is based in Memphis, Tennessee.
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