Monthly Stock Report: FedEx Corporation (FDX)
Publication Date: September 22, 2024
Company Overview
FedEx Corporation (FDX), based in Memphis, Tennessee, stands as a pivotal player in the integrated freight and logistics industry. Founded in 1971, the company operates through several segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services. These divisions offer a comprehensive suite of logistics solutions, including express transportation, small-package delivery, freight services, and supply chain management. With an estimated total revenue of approximately $87.59 billion, FedEx displays promising financial growth, suggesting a robust investment opportunity in the logistics and transportation sector.
Market Analysis and Stock Performance
The stock performance of FedEx reflects a mix of potential upside and current valuation opportunities. Currently trading at $254.64, the stock is significantly lower than its 52-week high of $313.84, indicating potential value for investors. Notably, analysts have set a target high price of $351.00, with a mean target of $322.09, signaling a bullish sentiment surrounding the stock. The target median price sits at $331.33, showcasing healthy projections based on market conditions. The stock has a float of 223,951,774 shares, with approximately 1.36% held short, reflecting cautious investor sentiment. Analysts recommend a “buy” based on insights from 26 experts, with a recommendation mean of 2.1, further solidifying confidence in FedEx’s future performance.
Investment Outlook
Investors eyeing FedEx can anticipate significant growth within a rising market. With its competitive position in a burgeoning logistics sector, the company presents an attractive investment landscape. The volatility exhibited by the stock, with recent trading well below its 50-day moving average of $292.44, and its historical price range further emphasizes the potential for future profitability. As the integrated freight and logistics industry continues to thrive, FedEx Corporation remains poised for growth, making it a compelling addition to any investment portfolio.
| Metric | Value |
|---|---|
| Market Cap | $62.2b |
| Total Debt | N/A |
| Total Cash | N/A |
| Shares Outstanding | 244.3m |
| Float Shares | 224.0m |
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