<p><strong>联邦快递</strong>(FDX 3.14%) 是一家全球知名的物流巨头。多年来，它一直是一只安全的蓝筹股。它不仅财务状况强劲，持续盈利，而且还为投资者提供了具有吸引力的股息，目前的收益率为 2.5%——远高于 <strong>标准普尔 500</strong> 的 1.2%。</p>
<p>然而，最近对其增长的担忧有所增加。贸易战和关税对企业造成了压力，人们担心美国及其他国家可能面临经济衰退。而且，经济放缓已经对业务造成了影响。</p>
<p>鉴于联邦快递面临的挑战，您应该担心它的股息吗？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjMxMjQvcGVvcGxlLWxvYWRpbmctYS10cnVjay5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjMxMjQvcGVvcGxlLWxvYWRpbmctYS10cnVjay5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>联邦快递最新数据解读</h2>
<p>在 6 月 24 日，联邦快递发布了截至 5 月 31 日的第四季度财报。该公司在财政年度结束时的收入总计为 222 亿美元——与上一个财政年度的 221 亿美元几乎没有变化。净收入略有改善，从一年前的 14.7 亿美元增加到过去一年的 16.5 亿美元。</p>
<p>这并不是一个糟糕的表现，公司在最近一个季度的调整后每股收益（EPS）为 6.07 美元，超出了华尔街预期的 5.84 美元。公司的成本削减措施已经开始见效。</p>
<p>但对于当前的财政年度，联邦快递仍然不期望看到太多增长。它预计收入将持平或增长 2%，因为它仍在应对一些经济挑战。</p>
<h2>这对股息意味着什么？</h2>
<p>联邦快递目前支付每季度 1.45 美元的股息，最近将其从几个月前的 1.38 美元提高了 5%。这意味着在整整一年中，它每股向每位股东支付 5.80 美元。</p>
<p>以这个速度来看，股息支付相对安全。考虑到在最近一个季度，其调整后的每股收益已经超过了这个数字。在整整一年中，毫无疑问，它的收益将足够强劲以支持这个水平的股息。联邦快递的股息支付比率约为 33%，这不仅是可持续的，而且为公司继续提高股息留出了很大的空间。</p>
<p>除非公司的收益大幅下滑——而且没有理由相信这会在短期内发生——否则今天对其股息不必过于担忧。</p>
<h2>您应该投资联邦快递股票吗？</h2>
<p>联邦快递近年来一直在努力增长，但这在很大程度上是由于经济挑战，这些挑战可能不会长期持续。这仍然是一家值得信赖的物流公司，应该会从电子商务和国际贸易的持续增长中受益。虽然可能需要一些时间和耐心，但这不是我会反对的股票，因为它拥有强大的品牌和广泛的网络，并且在强劲经济增长中处于良好位置。</p>
<p>虽然其短期前景可能看起来不佳，但现在在低迷时买入这只股票可能是个好选择。尽管您可能对今年 19% 的价值下跌感到担忧（截至 6 月 27 日的回报），但该公司的基本面依然稳固，尤其是在它继续专注于提高效率和降低成本的情况下。</p>
<p>以仅 12 倍的预估未来收益交易，这可以是一只值得长期持有的稳定收益股票。</p>

联邦快递

<p>联邦快递是一家知名的物流公司，提供 2.5% 的股息收益率，高于标准普尔 500 指数的 1.2%。尽管面临包括贸易战和潜在经济衰退在内的经济挑战，联邦快递报告称其净收入略微增加至 16.5 亿美元，收入保持稳定在 222 亿美元。该公司最近将季度股息提高至 1.45 美元，表明其可持续的派息比率约为 33%。虽然预计增长将保持平稳至 2%，但联邦快递的基本面依然强劲，使其在近期股价下跌的情况下仍然成为一个潜在的良好投资</p>

<p><strong>FedEx</strong>(FDX 3.14%) is a logistics giant that's known all around the world. It's been a safe, blue chip stock to own over the years. Not only does it have strong financials and post consistent profits, but it also offers investors an attractive dividend, which currently yields 2.5% -- much higher than the <strong>S&amp;P 500</strong>'s 1.2% payout.</p>
<div class="lb-trans"><p><strong>联邦快递</strong>(FDX 3.14%) 是一家全球知名的物流巨头。多年来，它一直是一只安全的蓝筹股。它不仅财务状况强劲，持续盈利，而且还为投资者提供了具有吸引力的股息，目前的收益率为 2.5%——远高于 <strong>标准普尔 500</strong> 的 1.2%。</p>
</div><p>There have, however, been concerns of late about its growth. Trade wars and tariffs are weighing on businesses, and the worry is that a recession may be on the horizon in not only the U.S., but in other countries as well. And a slowdown has already been taking a toll on the business.</p>
<div class="lb-trans"><p>然而，最近对其增长的担忧有所增加。贸易战和关税对企业造成了压力，人们担心美国及其他国家可能面临经济衰退。而且，经济放缓已经对业务造成了影响。</p>
</div><p>Given the challenges FedEx is facing, should you be worried about its dividend?</p>
<div class="lb-trans"><p>鉴于联邦快递面临的挑战，您应该担心它的股息吗？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjMxMjQvcGVvcGxlLWxvYWRpbmctYS10cnVjay5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F823124%2Fpeople-loading-a-truck.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>What FedEx's latest numbers say</h2>
<div class="lb-trans"><h2>联邦快递最新数据解读</h2>
</div><p>On June 24, FedEx posted its fourth-quarter earnings numbers for the period ended May 31. The company finished the fiscal year with revenue totaling $22.2 billion -- nearly unchanged from the $22.1 billion it posted in the previous fiscal year. Net income improved slightly, from $1.47 billion a year ago to $1.65 billion this past year.</p>
<div class="lb-trans"><p>在 6 月 24 日，联邦快递发布了截至 5 月 31 日的第四季度财报。该公司在财政年度结束时的收入总计为 222 亿美元——与上一个财政年度的 221 亿美元几乎没有变化。净收入略有改善，从一年前的 14.7 亿美元增加到过去一年的 16.5 亿美元。</p>
</div><p>It wasn't a bad performance at all, and the company beat expectations for the most recent quarter as adjusted earnings per share (EPS) of $6.07 came in higher than Wall Street estimates of $5.84. The company's cost-cutting efforts have been paying off.</p>
<div class="lb-trans"><p>这并不是一个糟糕的表现，公司在最近一个季度的调整后每股收益（EPS）为 6.07 美元，超出了华尔街预期的 5.84 美元。公司的成本削减措施已经开始见效。</p>
</div><p>But for the current fiscal year, FedEx still doesn't expect to see a lot of growth. It is projecting flat to 2% gain in revenue, as it's still bracing for some challenging economic headwinds.</p>
<div class="lb-trans"><p>但对于当前的财政年度，联邦快递仍然不期望看到太多增长。它预计收入将持平或增长 2%，因为它仍在应对一些经济挑战。</p>
</div><h2>What does this mean for the dividend?</h2>
<div class="lb-trans"><h2>这对股息意味着什么？</h2>
</div><p>FedEx currently pays a quarterly dividend of $1.45, which it recently increased by 5% from the $1.38 it was paying just a few months ago. This means that over the course of a full year, it's paying $5.80 per share to each shareholder.</p>
<div class="lb-trans"><p>联邦快递目前支付每季度 1.45 美元的股息，最近将其从几个月前的 1.38 美元提高了 5%。这意味着在整整一年中，它每股向每位股东支付 5.80 美元。</p>
</div><p>At that rate, the payout looks fairly safe. Consider that in its most recent quarter, its adjusted EPS was already more than this figure. Over the course of a full year, there's little doubt that its earnings will be strong enough to support this level of dividends. FedEx's payout ratio is around 33%, which not only is sustainable, but leaves a lot of room for the company to continue raising its dividend.</p>
<div class="lb-trans"><p>以这个速度来看，股息支付相对安全。考虑到在最近一个季度，其调整后的每股收益已经超过了这个数字。在整整一年中，毫无疑问，它的收益将足够强劲以支持这个水平的股息。联邦快递的股息支付比率约为 33%，这不仅是可持续的，而且为公司继续提高股息留出了很大的空间。</p>
</div><p>Unless the company's earnings were to drastically nosedive -- and there's no reason to believe that will happen anytime soon -- there shouldn't be much concern about its dividend today.</p>
<div class="lb-trans"><p>除非公司的收益大幅下滑——而且没有理由相信这会在短期内发生——否则今天对其股息不必过于担忧。</p>
</div><h2>Should you invest in FedEx stock?</h2>
<div class="lb-trans"><h2>您应该投资联邦快递股票吗？</h2>
</div><p>FedEx has been struggling to grow in recent years, but that is largely a result of economic challenges, which likely won't persist over the long term. This is still a trusted logistics company that should benefit from continued growth in e-commerce and international trade. It may take some time and patience, but this isn't a stock I'd bet against, as it has a strong brand and vast network, and it's in a good position to benefit from strong economic growth.</p>
<div class="lb-trans"><p>联邦快递近年来一直在努力增长，但这在很大程度上是由于经济挑战，这些挑战可能不会长期持续。这仍然是一家值得信赖的物流公司，应该会从电子商务和国际贸易的持续增长中受益。虽然可能需要一些时间和耐心，但这不是我会反对的股票，因为它拥有强大的品牌和广泛的网络，并且在强劲经济增长中处于良好位置。</p>
</div><p>While its near-term prospects may not look great, this can be a good stock to buy on weakness right now. Although you may be concerned about the 19% drop in value this year (returns as of June 27), the business' fundamentals remain solid, especially as it continues to focus on efficiency and driving costs down.</p>
<div class="lb-trans"><p>虽然其短期前景可能看起来不佳，但现在在低迷时买入这只股票可能是个好选择。尽管您可能对今年 19% 的价值下跌感到担忧（截至 6 月 27 日的回报），但该公司的基本面依然稳固，尤其是在它继续专注于提高效率和降低成本的情况下。</p>
</div><p>Trading at just 12 times its estimated future earnings, this can be a solid income-generating stock to hang on to for the long haul.</p>
<div class="lb-trans"><p>以仅 12 倍的预估未来收益交易，这可以是一只值得长期持有的稳定收益股票。</p>
</div>

联邦快递的高收益股息是否稳妥？