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FedEx (FDX) Gains But Lags Market: What You Should Know
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FedEx (FDX - Free Report) closed the most recent trading day at $224.55, moving +0.35% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.93%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Prior to today's trading, shares of the package delivery company had gained 0.37% over the past month. This has lagged the Transportation sector's gain of 0.92% and the S&P 500's gain of 4.61% in that time.
Investors will be hoping for strength from FedEx as it approaches its next earnings release, which is expected to be June 20, 2023. The company is expected to report EPS of $4.83, down 29.69% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $22.72 billion, down 6.85% from the year-ago period.
It is also important to note the recent changes to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.86% higher within the past month. 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 12.24. This valuation marks a discount compared to its industry's average Forward P/E of 14.03.
Meanwhile, FDX's PEG ratio is currently 1.02. 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. The Transportation - Air Freight and Cargo was holding an average PEG ratio of 1.58 at yesterday's closing price.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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FedEx (FDX) Gains But Lags Market: What You Should Know
FedEx (FDX - Free Report) closed the most recent trading day at $224.55, moving +0.35% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.93%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Prior to today's trading, shares of the package delivery company had gained 0.37% over the past month. This has lagged the Transportation sector's gain of 0.92% and the S&P 500's gain of 4.61% in that time.
Investors will be hoping for strength from FedEx as it approaches its next earnings release, which is expected to be June 20, 2023. The company is expected to report EPS of $4.83, down 29.69% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $22.72 billion, down 6.85% from the year-ago period.
It is also important to note the recent changes to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.86% higher within the past month. 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 12.24. This valuation marks a discount compared to its industry's average Forward P/E of 14.03.
Meanwhile, FDX's PEG ratio is currently 1.02. 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. The Transportation - Air Freight and Cargo was holding an average PEG ratio of 1.58 at yesterday's closing price.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.