NEW YORK (TheStreet) -- Shares of FedEx Corp. (FDX) are up 3.70% to $145.50 in pre-market trading on Wednesday after reporting earnings of $2.46 per diluted share for the fourth quarter ended May 31, versus $2.13 per diluted share in the same period a year ago.
The average estimate of analysts surveyed by Thompson Reuters was $2.36.
Revenue rose to $11.8 billion in the fiscal fourth quarter compared with $11.4 billion a year ago, beating the consensus analyst estimate of $11.66 billion.
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Looking forward, FedEx projects fiscal 2015 earnings in the range of $8.50 to $9.00 per diluted share versus the average analyst estimate of $8.76 in the period.
Separately, TheStreet Ratings team rates FEDEX CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FEDEX CORP (FDX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. 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, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."