NEW YORK (TheStreet) -- Shares of FedEx (FDX) - Get Report are slumping 3.49% to $158.22 on Wednesday morning even though the delivery giant reported better-than-expected earnings and revenue for the 2016 fiscal fourth quarter after yesterday's market close.

"I liked the quarter a lot," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning, noting that the consumer "looks very, very strong."

FedEx's ground plus business posted growth of 20% and the company has same-day delivery in 24 markets, Cramer noted.

The company said 95% of online commerce is still being done by UPS, FedEx and the U.S. Postal Service, Cramer added.

"FedEx to me is not going to be ruined by Amazon.com (AMZN)," Cramer said, especially with it same-day delivery service.

Cramer also mentioned that FedEx's margins were increasing and that he liked that fact that the company believes in its own stock.

But he noted that analysts were very "split" on the quarter.

"I think the analysts don't know what to do because the stock is up so much," Cramer said.

For fiscal 2017, FedEx forecasts adjusted earnings per share between $11.75 and $12.25. The midpoint of the guidance was just below Wall Street's estimate of $12.17.

"Those who want to nitpick, I think you're nitpicking because the stock is up too much not because of anything they said because I like what they said," Cramer added.

"It was a humble quarter by a humble group of operators, but I'll stand up for them and tell you they did a good job," Cramer concluded.

Cramer also commented on KB Home (KBH), which posted solid results for the 2016 second quarter after yesterday's closing bell.

"I thought KB Home delivered a great quarter, even better than Lennar (LEN)," Cramer said.

He also noted that KB Home is "so undervalued" and has a "tremendous" land bank.

"They had a remarkable quarter," Cramer said, "KB Home was the star of the show."

Shares of KB Home are gaining 2.68% to $14.93 on Wednesday morning.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on FedEx stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations.

The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: FDX

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