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Investing.com — FedEx Corporation (NYSE:FDX) rose almost 1% ahead of earnings.
The delivery company is set to report earnings per share of $4.97 for the quarter ended in May on sales of $21.46 billion, according to data compiled by Investing.com.
FedEx has delivered stunning results since the pandemic hit in March 2020, easily upsetting analyst estimates for the past four quarters.
On Wednesday, Barclays (LON:BARC) raised the price target on the stock to a Street high of $375 from $360 on expectations of strong results and the “likely resumption of favorable forward guidance,” StreetInsider reported.
“We find the potential challenges are manageable for FedEx (NYSE:FDX) and UPS as potential mid-single digit EPS headwinds could be more than offset by continued strong global demand for ecommerce package deliveries,” the firm said.
“With recent domestic US pricing outcomes accelerating at both FedEx and UPS, we see continued strength in retail activity and low inventory levels supporting a robust near- term outcome for FedEx earnings.”
