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Why FedEx (FDX) Dipped More Than Broader Market Today
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FedEx (FDX - Free Report) closed at $227.26 in the latest trading session, marking a -1.65% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.4%.
Heading into today, shares of the package delivery company had gained 1.18% over the past month, outpacing the Transportation sector's loss of 1.69% and lagging the S&P 500's gain of 3.25%.
The upcoming earnings release of FedEx will be of great interest to investors. On that day, FedEx is projected to report earnings of $3.71 per share, which would represent year-over-year growth of 3.06%. Alongside, our most recent consensus estimate is anticipating revenue of $21.76 billion, indicating a 0.82% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $18.49 per share and a revenue of $89.4 billion, demonstrating changes of +1.65% and +1.68%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for FedEx. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, FedEx is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that FedEx has a Forward P/E ratio of 12.5 right now. This denotes a discount relative to the industry average Forward P/E of 13.57.
We can also see that FDX currently has a PEG ratio of 1.2. 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. FDX's industry had an average PEG ratio of 1.63 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 203, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why FedEx (FDX) Dipped More Than Broader Market Today
FedEx (FDX - Free Report) closed at $227.26 in the latest trading session, marking a -1.65% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.4%.
Heading into today, shares of the package delivery company had gained 1.18% over the past month, outpacing the Transportation sector's loss of 1.69% and lagging the S&P 500's gain of 3.25%.
The upcoming earnings release of FedEx will be of great interest to investors. On that day, FedEx is projected to report earnings of $3.71 per share, which would represent year-over-year growth of 3.06%. Alongside, our most recent consensus estimate is anticipating revenue of $21.76 billion, indicating a 0.82% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $18.49 per share and a revenue of $89.4 billion, demonstrating changes of +1.65% and +1.68%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for FedEx. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, FedEx is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that FedEx has a Forward P/E ratio of 12.5 right now. This denotes a discount relative to the industry average Forward P/E of 13.57.
We can also see that FDX currently has a PEG ratio of 1.2. 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. FDX's industry had an average PEG ratio of 1.63 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 203, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.