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FedEx (FDX) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, FedEx (FDX - Free Report) closed at $264.73, marking a -1.06% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.92%. At the same time, the Dow lost 1.18%, and the tech-heavy Nasdaq lost 0.84%.
Shares of the package delivery company have appreciated by 12.52% over the course of the past month, outperforming the Transportation sector's gain of 1.69%, and the S&P 500's gain of 1.48%.
Investors will be eagerly watching for the performance of FedEx in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $4.02, reflecting a 0.74% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $22.87 billion, up 4.13% from the prior-year quarter.
FDX's full-year Zacks Consensus Estimates are calling for earnings of $17.97 per share and revenue of $91.86 billion. These results would represent year-over-year changes of -1.21% and +4.48%, respectively.
Investors might also notice recent changes to analyst estimates for FedEx. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.23% higher within the past month. FedEx is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, FedEx is presently being traded at a Forward P/E ratio of 14.89. For comparison, its industry has an average Forward P/E of 14.89, which means FedEx is trading at no noticeable deviation to the group.
Investors should also note that FDX has a PEG ratio of 1.48 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 2.03.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 90, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, FedEx (FDX - Free Report) closed at $264.73, marking a -1.06% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.92%. At the same time, the Dow lost 1.18%, and the tech-heavy Nasdaq lost 0.84%.
Shares of the package delivery company have appreciated by 12.52% over the course of the past month, outperforming the Transportation sector's gain of 1.69%, and the S&P 500's gain of 1.48%.
Investors will be eagerly watching for the performance of FedEx in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $4.02, reflecting a 0.74% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $22.87 billion, up 4.13% from the prior-year quarter.
FDX's full-year Zacks Consensus Estimates are calling for earnings of $17.97 per share and revenue of $91.86 billion. These results would represent year-over-year changes of -1.21% and +4.48%, respectively.
Investors might also notice recent changes to analyst estimates for FedEx. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.23% higher within the past month. FedEx is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, FedEx is presently being traded at a Forward P/E ratio of 14.89. For comparison, its industry has an average Forward P/E of 14.89, which means FedEx is trading at no noticeable deviation to the group.
Investors should also note that FDX has a PEG ratio of 1.48 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 2.03.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 90, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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.