FedEx (FDX) Stock Lower in Pre-Market Trading as Earnings Miss Estimates

NEW YORK (TheStreet) -- Shares of FedEx Corp. (FDX) are down by 2.24% to $178.05 in pre-market trading on Wednesday morning, after the package delivery company reported its fiscal 2015 first quarter earnings results, which fell short of analysts' expectations for the period.

The company reported adjusted earnings of $2.66 per diluted share for the most recent quarter, missing the $2.68 per share analysts polled by Thomson Reuters had forecast.

Revenue for the fourth quarter of fiscal 2015 was $12.1 billion versus the $12.31 billion analysts were looking for.

"Fiscal 2015 was a transformative year for FedEx with outstanding financial results driving expanded long-term value for shareowners," company CEO Frederick Smith said in a statement.

"Significant acquisitions announced in the year promise to strengthen our portfolio of services and change what's possible for customers. I am very proud of the FedEx team for its accomplishments and look forward to a successful fiscal 2016," Smith continued.

In April, FedEx announced a deal with the Dutch package delivery service TNT Express (TNTEY) worth $4.8 billion in order to extend the company's presence in Europe.

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, impressive record of earnings per share growth and compelling growth in net income. We feel its strengths outweigh the fact that the company shows low profit margins."

If you liked this article you might like

Market Selloff Survival Strategies: Cramer's 'Mad Money' Recap (Thurs 9/21/17)

FedEx Makes A Comeback: Cramer's Top Takeaways

Watch Out For the Dominoes That Fall: Cramer's 'Mad Money' Recap (Wed 9/20/17)

U.S. Indices Close Mixed as Fed Readies to Reduce Balance Sheet

Dow, S&P 500 Set New Records as Fed Moves to Unwind Balance Sheet