We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FedEx (FDX) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
In the latest market close, FedEx (FDX - Free Report) reached $246.77, with a +0.07% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.12%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.41%.
The package delivery company's shares have seen an increase of 1.75% over the last month, not keeping up with the Transportation sector's gain of 3.74% and the S&P 500's gain of 4.83%.
Market participants will be closely following the financial results of FedEx in its upcoming release. The company plans to announce its earnings on March 21, 2024. On that day, FedEx is projected to report earnings of $3.56 per share, which would represent year-over-year growth of 4.4%. Meanwhile, our latest consensus estimate is calling for revenue of $22.04 billion, down 0.58% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.72 per share and revenue of $88.18 billion. These totals would mark changes of +18.45% and -2.15%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for FedEx. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.52% lower within the past month. FedEx is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, FedEx is presently trading at a Forward P/E ratio of 13.92. This signifies a discount in comparison to the average Forward P/E of 15.88 for its industry.
It is also worth noting that FDX currently has a PEG ratio of 1.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.78 as trading concluded yesterday.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 238, positioning it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FDX in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
FedEx (FDX) Gains As Market Dips: What You Should Know
In the latest market close, FedEx (FDX - Free Report) reached $246.77, with a +0.07% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.12%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.41%.
The package delivery company's shares have seen an increase of 1.75% over the last month, not keeping up with the Transportation sector's gain of 3.74% and the S&P 500's gain of 4.83%.
Market participants will be closely following the financial results of FedEx in its upcoming release. The company plans to announce its earnings on March 21, 2024. On that day, FedEx is projected to report earnings of $3.56 per share, which would represent year-over-year growth of 4.4%. Meanwhile, our latest consensus estimate is calling for revenue of $22.04 billion, down 0.58% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.72 per share and revenue of $88.18 billion. These totals would mark changes of +18.45% and -2.15%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for FedEx. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.52% lower within the past month. FedEx is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, FedEx is presently trading at a Forward P/E ratio of 13.92. This signifies a discount in comparison to the average Forward P/E of 15.88 for its industry.
It is also worth noting that FDX currently has a PEG ratio of 1.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.78 as trading concluded yesterday.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 238, positioning it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FDX in the coming trading sessions, be sure to utilize Zacks.com.