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FedEx (FDX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, FedEx (FDX - Free Report) closed at $258.35, marking a -0.15% move from the previous day. This change lagged the S&P 500's 0.63% gain on the day. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.84%.
Heading into today, shares of the package delivery company had lost 3.76% over the past month, outpacing the Transportation sector's loss of 4.82% and lagging the S&P 500's loss of 3.37% in that time.
Wall Street will be looking for positivity from FedEx as it approaches its next earnings report date. This is expected to be September 20, 2023. On that day, FedEx is projected to report earnings of $3.68 per share, which would represent year-over-year growth of 6.98%. Meanwhile, our latest consensus estimate is calling for revenue of $21.84 billion, down 5.86% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.30 per share and revenue of $89.93 billion, which would represent changes of +15.64% and -0.21%, respectively, from the prior year.
Any recent changes to analyst estimates for FedEx should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant. FedEx currently has a Zacks Rank of #3 (Hold).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 14.95. For comparison, its industry has an average Forward P/E of 16.18, which means FedEx is trading at a discount to the group.
Investors should also note that FDX has a PEG ratio of 1.25 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.74 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 30, putting it in the top 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.
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 Sinks As Market Gains: What You Should Know
In the latest trading session, FedEx (FDX - Free Report) closed at $258.35, marking a -0.15% move from the previous day. This change lagged the S&P 500's 0.63% gain on the day. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.84%.
Heading into today, shares of the package delivery company had lost 3.76% over the past month, outpacing the Transportation sector's loss of 4.82% and lagging the S&P 500's loss of 3.37% in that time.
Wall Street will be looking for positivity from FedEx as it approaches its next earnings report date. This is expected to be September 20, 2023. On that day, FedEx is projected to report earnings of $3.68 per share, which would represent year-over-year growth of 6.98%. Meanwhile, our latest consensus estimate is calling for revenue of $21.84 billion, down 5.86% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.30 per share and revenue of $89.93 billion, which would represent changes of +15.64% and -0.21%, respectively, from the prior year.
Any recent changes to analyst estimates for FedEx should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant. FedEx currently has a Zacks Rank of #3 (Hold).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 14.95. For comparison, its industry has an average Forward P/E of 16.18, which means FedEx is trading at a discount to the group.
Investors should also note that FDX has a PEG ratio of 1.25 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.74 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 30, putting it in the top 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.