Here is our selection of the notable earnings you can expect today.
The global logistics giant has been through something of a struggle recently, but it is hoped that things might be finally stabilising in terms of share prices. Whilst FDX may have lost around a third of its value over the last 12 months, during 2019, share value has increased by around 4%. Last years slump was put down to the US-China trade war, with it wreaking havoc on the company that has significant operations in China. In addition to this, its tumultuous performance was attributed to issues arising from its 2016 acquisition of TNT Express. Despite all of this, there are a few analysts that retain some optimism- David Vernon from Bernstein being one of them. On June 20th, he increased his price target from $196 to $205 and gave FedEx an “Outperform” rating. Other analysts expect FedEx to report an uptick in sales of 3.3% to a total of $17.88 billion in profits.
Micron (MU) like many other semiconductor companies have been suffering over the last 12 months with increases of just 8% whilst other sectors rocket to all-time highs. It does appear however that things may be stabilising, despite CEO Sanjay Mehrotra describing the current climate as a “challenging market environment”. Last quarter, Micron reported better than expected fiscal profits and as we approach today’s announcement, the analyst community is leaning towards a “buy” rating. There have been some more negative outlooks from Harlan Sur from JPMorgan who lowered his price target significantly last week from $64 to $50. This was attributed to a lower than anticipated DRAM pricing, as well as a US ban on Chinese tech-giant Huawei, a customer of Micron. Tristan Gerra, an analyst from Baird rated it a “sell” and lowered his price target from $32 to $28, citing many of the same concerns. It is expected that Micron’s revenue will sink to $4.77 billion, causing profits to take a nosedive to 83 cents per share.
FactSet Research Systems (FDS)
FactSet Research Systems (FDS) is due to release its Q3 earnings today. Over the last two years, FDS has beaten its EPS estimates 88% of the time and revenue estimates 63% of the time. The current consensus EPS estimate is set at $2.37, an increase of 8.7% year on year, and the consensus revenue estimate is of $359.25 million, an increase of 5.7% year on year. Over the last 12 months, share prices are up 39.92%, signifying positive returns and investor contentment going into this quarters earnings report.