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4-Traders Homepage  >  Equities  >  Nyse  >  FedEx Corporation    FDX

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FedEx : Struggles to Bounce Back From Cyberattack

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07/17/2017 | 04:42pm CEST
By Imani Moise 

Customers waiting for packages abroad are experiencing significant delays as FedEx Corp. continues to reel from the effects of a June 27 cyberattack.

The logistics company said Monday in a securities filing that the global cyberattack known as Petya significantly affected the operations of its TNT Express business, which has delivery operations in the Middle East and Africa, Asia-Pacific, Europe and South America.

FedEx said while TNT depots, hubs and facilities are operational, it has resorted to manual processes to facilitate a significant portion of operations and customer service functions.

"We cannot estimate when TNT services will be fully restored," the company said.

The company said the cyberattack will have a "material" financial impact on its operations. FedEx said it doesn't have cyber insurance or any other insurance to cover the attack.

Shares in FedEx fell 2.6% to $213.38 in morning trading.

FedEx acquired TNT Express BV last year for $4.8 billion, with the deal being the largest acquisition in FedEx's history. The Netherlands-based TNT contributed 12% to FedEx's top line in the prior fiscal year.

Write to Imani Moise at imani.moise@wsj.com

Corrections & Amplifications

This story was corrected at 1:37 p.m. ET because it incorrectly stated the location of TNT Express's headquarters as the Ukraine in the last paragraph. The company is based in the Netherlands.

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Financials ($)
Sales 2018 63 420 M
EBIT 2018 6 010 M
Net income 2018 3 559 M
Debt 2018 10 680 M
Yield 2018 0,90%
P/E ratio 2018 16,30
P/E ratio 2019 14,12
EV / Sales 2018 1,08x
EV / Sales 2019 1,02x
Capitalization 57 506 M
Chart FEDEX CORPORATION
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FedEx Corporation Technical Analysis Chart | FDX | US31428X1063 | 4-Traders
Technical analysis trends FEDEX CORPORATION
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 230 $
Spread / Average Target 7,3%
EPS Revisions
Managers
NameTitle
Frederick Wallace Smith Chairman & Chief Executive Officer
David J. Bronczek President & Chief Operating Officer
Alan B. Graf Chief Financial Officer & Executive Vice President
Rob B. Carter Chief Information Officer
James L. Barksdale Independent Director
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