FedEx Beats Earnings Estimates

NEW YORK ( TheStreet) -- FedEx ( FDX) beat analysts' third-quarter estimates reporting earnings of $521 million, or $1.65 a share, up from year-earlier earnings of $231 million, or 73 cents.

Adjusted profit in the quarter was $1.55 a share.

Revenue rose to $10.56 billion from $9.66 billion a year earlier.

Analysts were expecting third-quarter earnings of $1.35 a share on revenue of $10.6 billion.

The company expects fourth-quarter earnings of between $1.75 and $2 a share. Analysts anticipate $1.98 a share. FedEx's year-earlier fourth-quarter earnings per share were $1.75.

Shares of FedEx ticked down 2 cents, or 0.02%, in premarket trading Thursday to $95.80. The stock has risen 14.74% year to date.

TheStreet Ratings gives FedEx a B+ grade with a buy rating and a $109.27 price target.

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-- Written by Alexandra Zendrian

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