We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FedEx (FDX) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
FedEx (FDX - Free Report) closed the most recent trading day at $226.37, moving -0.94% from the previous trading session. This move lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq added 1.39%.
Coming into today, shares of the package delivery company had lost 0.61% in the past month. In that same time, the Transportation sector lost 1.84%, while the S&P 500 lost 0.68%.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be June 20, 2023. On that day, FedEx is projected to report earnings of $4.78 per share, which would represent a year-over-year decline of 30.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.97 billion, down 5.85% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.81 per share and revenue of $91.4 billion, which would represent changes of -28.14% and -2.26%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. FedEx currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 15.43. This represents a discount compared to its industry's average Forward P/E of 15.84.
We can also see that FDX currently has a PEG ratio of 1.29. 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. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.63 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
FedEx (FDX) Dips More Than Broader Markets: What You Should Know
FedEx (FDX - Free Report) closed the most recent trading day at $226.37, moving -0.94% from the previous trading session. This move lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq added 1.39%.
Coming into today, shares of the package delivery company had lost 0.61% in the past month. In that same time, the Transportation sector lost 1.84%, while the S&P 500 lost 0.68%.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be June 20, 2023. On that day, FedEx is projected to report earnings of $4.78 per share, which would represent a year-over-year decline of 30.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.97 billion, down 5.85% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.81 per share and revenue of $91.4 billion, which would represent changes of -28.14% and -2.26%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. FedEx currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 15.43. This represents a discount compared to its industry's average Forward P/E of 15.84.
We can also see that FDX currently has a PEG ratio of 1.29. 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. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.63 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.