FedEx is a 'no-brainer' buy if it sells off on earnings, investor says $FDX (via TradingNation)
The delivery company has slumped nearly 40% from a 52-week high set last September, almost double the 20% decline that delineates a bear market from a correction. It has also held flat for the year, tracking for its smallest annual move ever.
"Longer term, you're off 38% from your highs, the barriers to entry are so hard to penetrate on FedEx and at the current valuation, it's a no brainer," Petrides told CNBC's "FedEx has missed analysts' estimates twice in the past three quarters, which kicked off an average 7% decline in the stock. Those losses have pushed the company's forward price-to-earnings ratio below 10, a cheap valuation compared with the S&P 500's 17 times multiple.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FedEx, in another error, misses delivery of Huawei package to USFedEx says an operational error prevented the delivery of a Huawei package to the U.S., just weeks after the shipping company said it misdirected the Chinese firm's packages.
Read more »
FedEx Slashes Prices to Fill Its PlanesFedEx is offering big discounts to woo online merchants to its air network as it seeks to refashion a delivery system ill-equipped for the rise of e-commerce.
Read more »
FedEx sues US Commerce Department over export restrictions that affect HuaweiUS delivery company FedEx has filed a lawsuit against the US government, arguing that it should not be required to enforce federal government export bans
Read more »
FedEx Sues Commerce Department Over Restrictions on HuaweiFedEx, after botching some deliveries for Huawei, filed a lawsuit to stop the U.S. government from requiring the package giant to enforce a crackdown on the Chinese telecommunications-gear maker.
Read more »
FedEx confirms Huawei mail ban as new 'mistake' reignites Chinese ireFedEx Corp has apologized for another Huawei delivery 'mistake', reign...
Read more »
FedEx is a 'bottom-fishing' stock heading into earnings, technical analyst saysFedEx heads into earnings this week well off its highs, but one technical analyst says the worst could be over for the delivery company.
Read more »