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FedEx (FDX) Stock Moves -0.52%: What You Should Know
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In the latest trading session, FedEx (FDX - Free Report) closed at $265.55, marking a -0.52% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.16%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 1.14%.
Heading into today, shares of the package delivery company had gained 4.79% over the past month, outpacing the Transportation sector's loss of 0.59% and the S&P 500's loss of 0.27% in that time.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be September 20, 2023. On that day, FedEx is projected to report earnings of $3.68 per share, which would represent year-over-year growth of 6.98%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.84 billion, down 5.86% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.30 per share and revenue of $89.93 billion, which would represent changes of +15.64% and -0.21%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.07% higher. FedEx currently has a Zacks Rank of #3 (Hold).
In terms of valuation, FedEx is currently trading at a Forward P/E ratio of 15.43. This valuation marks a discount compared to its industry's average Forward P/E of 16.63.
We can also see that FDX currently has a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.78 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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FedEx (FDX) Stock Moves -0.52%: What You Should Know
In the latest trading session, FedEx (FDX - Free Report) closed at $265.55, marking a -0.52% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.16%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 1.14%.
Heading into today, shares of the package delivery company had gained 4.79% over the past month, outpacing the Transportation sector's loss of 0.59% and the S&P 500's loss of 0.27% in that time.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be September 20, 2023. On that day, FedEx is projected to report earnings of $3.68 per share, which would represent year-over-year growth of 6.98%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.84 billion, down 5.86% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.30 per share and revenue of $89.93 billion, which would represent changes of +15.64% and -0.21%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.07% higher. FedEx currently has a Zacks Rank of #3 (Hold).
In terms of valuation, FedEx is currently trading at a Forward P/E ratio of 15.43. This valuation marks a discount compared to its industry's average Forward P/E of 16.63.
We can also see that FDX currently has a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.78 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.