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FedEx (FDX) Outpaces Stock Market Gains: What You Should Know
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FedEx (FDX - Free Report) closed at $228.87 in the latest trading session, marking a +1.92% move from the prior day. This change outpaced the S&P 500's 0.69% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Coming into today, shares of the package delivery company had gained 0.96% in the past month. In that same time, the Transportation sector gained 1.93%, while the S&P 500 gained 5.41%.
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 recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.86% higher. FedEx is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that FedEx has a Forward P/E ratio of 12.28 right now. For comparison, its industry has an average Forward P/E of 14.1, which means FedEx is trading at a discount to the group.
Investors should also note that FDX has a PEG ratio of 1.02 right now. 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 1.59 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 224, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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FedEx (FDX) Outpaces Stock Market Gains: What You Should Know
FedEx (FDX - Free Report) closed at $228.87 in the latest trading session, marking a +1.92% move from the prior day. This change outpaced the S&P 500's 0.69% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Coming into today, shares of the package delivery company had gained 0.96% in the past month. In that same time, the Transportation sector gained 1.93%, while the S&P 500 gained 5.41%.
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 recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.86% higher. FedEx is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that FedEx has a Forward P/E ratio of 12.28 right now. For comparison, its industry has an average Forward P/E of 14.1, which means FedEx is trading at a discount to the group.
Investors should also note that FDX has a PEG ratio of 1.02 right now. 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 1.59 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 224, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.