FedEx (NYSE:FDX) recently reported earnings for its first quarter of Fiscal Year 2023. Adjusted earnings per share came in at $3.44, which missed analysts’ consensus estimate of $5.14 per FDX share. In the past nine quarters, the company has beaten estimates 4 times.

However, sales increased 5.45% year-over-year, with revenue hitting $23.2 billion compared to $22 billion. Still, this was lower than the $23.5 billion that analysts were looking for. This can be attributed to muted demand in global shipments, weakness in Asia and Europe, as well as high operating expenses.

In addition, the company demonstrated operating deleverage since it fell despite higher revenue. Indeed, the operating margin contracted from 6.4% to 5.1%. As a result, the company’s operating income decreased from $1.4 billion in the comparable period to $1.19 billion now.

Investor Sentiment for FDX Stock is Currently Positive

The sentiment among TipRanks investors is currently Very Positive. Out of the 566,302 portfolios tracked by TipRanks, 1.2% hold FDX stock. In addition, the average portfolio weighting allocated towards FDX among those who do have a position is 4.24%. This suggests that investors of the company are fairly confident about its future.

In addition, in the last 30 days, 2.5% of those holding the stock increased their positions. As a result, the stock’s sentiment is above the sector average, as demonstrated in the following image:

Is FedEx Stock a Buy, Sell, or Hold?

FDX has a Moderate Buy consensus rating based on 11 Buys, 11 Holds, and zero Sells assigned in the past three months. The average FDX stock price target of $236.14 implies 53% upside potential.

Takeaway – Investors Remain Confident that FDX Stock Will Bounce Back

FedEx saw a disappointing quarter as adjusted earnings missed significantly despite rising revenue. Nonetheless, investors remain confident that the company will bounce back as sentiment on the stock remains positive.

Disclosure

Tagging: ups stock price today.

via: TipRanks.

Is Fedex Stock a good buy in 2022, according to Wall Street analysts? The consensus among 17 Wall Street analysts covering (NYSE: FDX) stock is to Strong Buy FDX stock.

FedEx (FDX) has 5 splits in our FedEx stock split history database. The first split for FDX took place on November 03, 1980.

1. FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

  • Author: alphastreet.com
  • Updated: 2022-09-24
  • Rated: 76/100 ⭐ (9697 votes)
  • High rate: 79/100 ⭐
  • Low rate: 64/100 ⭐
  • Summary: FedEx Q1 adjusted earnings drop; revenue up 5%
  • Matched Content: Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues.
  • Read more: here
  • Edited by: Noell Chessy

2. FedEx Corp (NYSE:FDX) Stock News, Headlines & Updates

  • Author: gurufocus.com
  • Updated: 2022-09-24
  • Rated: 99/100 ⭐ (8193 votes)
  • High rate: 99/100 ⭐
  • Low rate: 54/100 ⭐
  • Summary: Stock News, Headlines & Updates
  • Matched Content: Get the latest stock news for FedEx Corp (NYSE:FDX) FedEx (NYSE:FDX) Reports Earnings: Here are the Results. www.tipranks.com • 3:01pm.
  • Read more: here
  • Edited by: Aurea Donelle

3. What To Expect From FedEx Stock As It Reports Q3 Results? - Trefis

  • Author: trefis.com
  • Updated: 2022-09-24
  • Rated: 69/100 ⭐ (8877 votes)
  • High rate: 98/100 ⭐
  • Low rate: 65/100 ⭐
  • Summary: What To Expect From FedEx Stock As It Reports Q3 Results?
  • Matched Content: FedEx (NYSE: FDX) is scheduled to report its fiscal Q3 2022 results on Thursday, Mar 17. We expect FedEx to post revenue and earnings above 
  • Read more: here
  • Edited by: Muire Chaney

4. J.P. Morgan Reaffirms Their Hold Rating on FedEx (FDX)

  • Author: businessinsider.com
  • Updated: 2022-09-24
  • Rated: 69/100 ⭐ (6145 votes)
  • High rate: 97/100 ⭐
  • Low rate: 56/100 ⭐
  • Summary: J.P. Morgan Reaffirms Their Hold Rating on FedEx
  • Matched Content: FedEx (NYSE:FDX) Reports Earnings: Here are the Results · FedEx, UPS: 2 Intriguing Dividend Stocks Following Their Decline · FedEx (NYSE: FDX): 
  • Read more: here
  • Edited by: Helenka Beshore

5. What To Expect From FedEx Stock As It Reports Q2 Results? - Trefis

  • Author: trefis.com
  • Updated: 2022-09-23
  • Rated: 66/100 ⭐ (5893 votes)
  • High rate: 89/100 ⭐
  • Low rate: 65/100 ⭐
  • Summary: What To Expect From FedEx Stock As It Reports Q2 Results?
  • Matched Content: FedEx (NYSE: FDX) is scheduled to report its fiscal Q2 2022 results on Thursday, Dec 16. We expect FedEx to likely post revenue and earnings 
  • Read more: here
  • Edited by: Cordie Ellan