2024-04-24 07:30:00 ET
Summary
- Since I initiated a buy rating on FedEx, the stock has slightly outperformed the market.
- The transportation juggernaut's topline missed the analyst consensus in its fiscal third quarter while non-GAAP EPS topped expectations.
- FedEx's interest coverage ratio through the first three quarters of fiscal year 2024 suggests it is financially healthy.
- Shares could be priced 11% below fair value from the current share price.
- FedEx appears to be positioned for future outperformance as well.
As a dividend growth-focused contributor here on Seeking Alpha, I have touted the appeal to dividend growth investing on numerous occasions over the years. This may raise questions for some readers.
Is this simply because I like dividends? No, although I do appreciate them.
Maybe it's because I'm selling a guru course of some sort? Negative.
What you see is what you get with me. I believe in the merits of owning dividend growth stocks. For what I mean, let's go over one powerful graphic below....
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For further details see:
FedEx: Why This Dividend Growth Stock Remains A Buy Now