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Benzinga

Business

Dylan Berman

FedEx Stock Is Trading Lower Wednesday: What's Going On?

Los,Angeles,-,February,28,,2024:,Fedex,Delivery,Truck,In

FedEx Corporation (NYSE:FDX) shares are moving lower Wednesday after the company issued soft guidance for the first quarter. Multiple analysts also cut price targets following the company’s fourth-quarter results.

Q4 Details: FedEx reported adjusted earnings per share of $6.07, beating the consensus estimate of $5.87. In addition, the company reported sales of $22.20 billion, beating the consensus estimate of $21.83 billion.

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