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FedEx (FDX) Stock Moves -0.08%: What You Should Know
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In the latest trading session, FedEx (FDX - Free Report) closed at $217, marking a -0.08% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.38%. Elsewhere, the Dow lost 1.94%, while the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the package delivery company had gained 4.81% over the past month. This has outpaced the Transportation sector's loss of 1.83% and the S&P 500's loss of 0.07% in that time.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be June 23, 2022. On that day, FedEx is projected to report earnings of $6.80 per share, which would represent year-over-year growth of 35.73%. Meanwhile, our latest consensus estimate is calling for revenue of $24.35 billion, up 7.91% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for FedEx. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. FedEx is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 9.61. Its industry sports an average Forward P/E of 13.99, so we one might conclude that FedEx is trading at a discount comparatively.
Also, we should mention that FDX has a PEG ratio of 0.8. 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. The Transportation - Air Freight and Cargo was holding an average PEG ratio of 1.55 at yesterday's closing price.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.
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 -0.08%: What You Should Know
In the latest trading session, FedEx (FDX - Free Report) closed at $217, marking a -0.08% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.38%. Elsewhere, the Dow lost 1.94%, while the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the package delivery company had gained 4.81% over the past month. This has outpaced the Transportation sector's loss of 1.83% and the S&P 500's loss of 0.07% in that time.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be June 23, 2022. On that day, FedEx is projected to report earnings of $6.80 per share, which would represent year-over-year growth of 35.73%. Meanwhile, our latest consensus estimate is calling for revenue of $24.35 billion, up 7.91% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for FedEx. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. FedEx is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 9.61. Its industry sports an average Forward P/E of 13.99, so we one might conclude that FedEx is trading at a discount comparatively.
Also, we should mention that FDX has a PEG ratio of 0.8. 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. The Transportation - Air Freight and Cargo was holding an average PEG ratio of 1.55 at yesterday's closing price.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.