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FedEx (FDX) Advances While Market Declines: Some Information for Investors
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In the latest trading session, FedEx (FDX - Free Report) closed at $239.54, marking a +0.82% move from the previous day. This move outpaced the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
The package delivery company's shares have seen a decrease of 5.23% over the last month, not keeping up with the Transportation sector's gain of 3.62% and the S&P 500's gain of 3.56%.
The investment community will be closely monitoring the performance of FedEx in its forthcoming earnings report. The company is scheduled to release its earnings on March 21, 2024. It is anticipated that the company will report an EPS of $3.56, marking a 4.4% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $22.04 billion, showing a 0.58% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.72 per share and a revenue of $88.16 billion, signifying shifts of +18.45% and -2.16%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for FedEx. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. As of now, FedEx holds a Zacks Rank of #4 (Sell).
In the context of valuation, FedEx is at present trading with a Forward P/E ratio of 13.41. This expresses a discount compared to the average Forward P/E of 15.64 of its industry.
It is also worth noting that FDX currently has a PEG ratio of 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Transportation - Air Freight and Cargo industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 223, finds itself in the bottom 12% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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FedEx (FDX) Advances While Market Declines: Some Information for Investors
In the latest trading session, FedEx (FDX - Free Report) closed at $239.54, marking a +0.82% move from the previous day. This move outpaced the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
The package delivery company's shares have seen a decrease of 5.23% over the last month, not keeping up with the Transportation sector's gain of 3.62% and the S&P 500's gain of 3.56%.
The investment community will be closely monitoring the performance of FedEx in its forthcoming earnings report. The company is scheduled to release its earnings on March 21, 2024. It is anticipated that the company will report an EPS of $3.56, marking a 4.4% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $22.04 billion, showing a 0.58% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.72 per share and a revenue of $88.16 billion, signifying shifts of +18.45% and -2.16%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for FedEx. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. As of now, FedEx holds a Zacks Rank of #4 (Sell).
In the context of valuation, FedEx is at present trading with a Forward P/E ratio of 13.41. This expresses a discount compared to the average Forward P/E of 15.64 of its industry.
It is also worth noting that FDX currently has a PEG ratio of 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Transportation - Air Freight and Cargo industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 223, finds itself in the bottom 12% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.