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In the latest trading session, FedEx (FDX - Free Report) closed at $400.00, marking a +1.47% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.61% for the day. Meanwhile, the Dow experienced a drop of 0.23%, and the technology-dominated Nasdaq saw an increase of 1.19%.
Shares of the package delivery company witnessed a gain of 1.63% over the previous month, beating the performance of the Transportation sector with its loss of 0.19%, and underperforming the S&P 500's gain of 4.44%.
Market participants will be closely following the financial results of FedEx in its upcoming release. The company is expected to report EPS of $5.8, down 4.45% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $23.86 billion, showing a 7.38% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $19.61 per share and a revenue of $93.35 billion, representing changes of +7.81% and +6.17%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for FedEx. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained steady. FedEx presently features a Zacks Rank of #3 (Hold).
With respect to valuation, FedEx is currently being traded at a Forward P/E ratio of 20.1. For comparison, its industry has an average Forward P/E of 15.53, which means FedEx is trading at a premium to the group.
Meanwhile, FDX's PEG ratio is currently 1.5. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Transportation - Air Freight and Cargo industry was having an average PEG ratio of 1.58.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 106, placing it within the top 44% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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FedEx (FDX) Laps the Stock Market: Here's Why
In the latest trading session, FedEx (FDX - Free Report) closed at $400.00, marking a +1.47% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.61% for the day. Meanwhile, the Dow experienced a drop of 0.23%, and the technology-dominated Nasdaq saw an increase of 1.19%.
Shares of the package delivery company witnessed a gain of 1.63% over the previous month, beating the performance of the Transportation sector with its loss of 0.19%, and underperforming the S&P 500's gain of 4.44%.
Market participants will be closely following the financial results of FedEx in its upcoming release. The company is expected to report EPS of $5.8, down 4.45% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $23.86 billion, showing a 7.38% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $19.61 per share and a revenue of $93.35 billion, representing changes of +7.81% and +6.17%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for FedEx. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained steady. FedEx presently features a Zacks Rank of #3 (Hold).
With respect to valuation, FedEx is currently being traded at a Forward P/E ratio of 20.1. For comparison, its industry has an average Forward P/E of 15.53, which means FedEx is trading at a premium to the group.
Meanwhile, FDX's PEG ratio is currently 1.5. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Transportation - Air Freight and Cargo industry was having an average PEG ratio of 1.58.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 106, placing it within the top 44% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.