A Backdoor Play on Internet Commerce
Record amounts of online buying volume mean FedEx (FDX) can be sure of strong package flow. While net profit margins aren't quite what they were during the high-flying pre-recession days, that news is already being reflected in the valuation. Shares touched $121.40 in 2007, yet closed at just $88.46 Monday.
Fiscal 2013 earnings per share should come in just 3% to 4% below fiscal 2007's record of $6.67. Barring a total economic collapse, 2014 earnings will likely jump well to above that old peak. Zacks sees $7.81 by that point....334 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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