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FedEx Corporation (NYSE: FDX) is scheduled to discuss its fiscal fourth-quarter 2009 results tomorrow in a conference call at 8:30 AM ET. You can catch the live webcast of the call on the company's website.
For the quarter that included the package delivery service's ongoing dispute with the Teamsters and the expansion of services into Canada, analysts surveyed by Thomson Reuters expect the Memphis-based company to report earnings of $0.52 per share, down 64.1% from the same period of the previous year. Revenue for the quarter is expected to have fallen 15.4% to $8.4 billion.
For the fiscal year, the forecast is for earnings of $3.64 per share (-37.6%) on revenue of $35.9 billion (-5.3%). FedEx's earnings have been in line with analysts' estimates in four of the past five quarters, but fell short by 14 cents per share in the third quarter.
Analysts, on average, expect FedEx's long-term EPS growth rate to be only 7.8%. Rival United Parcel Service (NYSE: UPS)'s isn't much better. The forward P/E ratio estimate is 18.0, and the quarterly dividend has been $0.11 per share for the past year. The First Call consensus recommendation remains to hold FDX, but BloggingStocks contributor Joseph Lazzaro was looking for an upside surprise from FedEx.
Though FDX is trading lower today, the share price has surged about 45% since hitting a 52-week low of $34.02 in March. Yet shares are still about 40% lower than a year ago.
See BloggingStocks' FedEx coverage for more information about the express courier and its rivals.
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