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FedEx (FDX) Dips More Than Broader Markets: What You Should Know
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FedEx (FDX - Free Report) closed at $172.28 in the latest trading session, marking a -0.44% move from the prior day. This move lagged the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the package delivery company had gained 8.47% over the past month, outpacing the Transportation sector's gain of 5.88% and the S&P 500's gain of 4.7% in that time.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be December 20, 2022. On that day, FedEx is projected to report earnings of $2.78 per share, which would represent a year-over-year decline of 42.44%. Our most recent consensus estimate is calling for quarterly revenue of $23.56 billion, up 0.38% from the year-ago period.
FDX's full-year Zacks Consensus Estimates are calling for earnings of $14.36 per share and revenue of $94.07 billion. These results would represent year-over-year changes of -30.33% and +0.6%, respectively.
Any recent changes to analyst estimates for FedEx should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. FedEx is currently a Zacks Rank #3 (Hold).
Looking at its valuation, FedEx is holding a Forward P/E ratio of 12.05. For comparison, its industry has an average Forward P/E of 12.05, which means FedEx is trading at a no noticeable deviation to the group.
Meanwhile, FDX's PEG ratio is currently 1. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Transportation - Air Freight and Cargo industry currently had an average PEG ratio of 1.3 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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FedEx (FDX) Dips More Than Broader Markets: What You Should Know
FedEx (FDX - Free Report) closed at $172.28 in the latest trading session, marking a -0.44% move from the prior day. This move lagged the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the package delivery company had gained 8.47% over the past month, outpacing the Transportation sector's gain of 5.88% and the S&P 500's gain of 4.7% in that time.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be December 20, 2022. On that day, FedEx is projected to report earnings of $2.78 per share, which would represent a year-over-year decline of 42.44%. Our most recent consensus estimate is calling for quarterly revenue of $23.56 billion, up 0.38% from the year-ago period.
FDX's full-year Zacks Consensus Estimates are calling for earnings of $14.36 per share and revenue of $94.07 billion. These results would represent year-over-year changes of -30.33% and +0.6%, respectively.
Any recent changes to analyst estimates for FedEx should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. FedEx is currently a Zacks Rank #3 (Hold).
Looking at its valuation, FedEx is holding a Forward P/E ratio of 12.05. For comparison, its industry has an average Forward P/E of 12.05, which means FedEx is trading at a no noticeable deviation to the group.
Meanwhile, FDX's PEG ratio is currently 1. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Transportation - Air Freight and Cargo industry currently had an average PEG ratio of 1.3 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.