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FedEx (FDX) Stock Moves -1.15%: What You Should Know
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FedEx (FDX - Free Report) closed the most recent trading day at $254.08, moving -1.15% from the previous trading session. This change was narrower than the S&P 500's 1.22% loss on the day. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.
Prior to today's trading, shares of the package delivery company had lost 2.97% over the past month. This has was narrower than the Transportation sector's loss of 4.27% and lagged the S&P 500's gain of 0.54% in that time.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be September 20, 2023. On that day, FedEx is projected to report earnings of $3.70 per share, which would represent year-over-year growth of 7.56%. Our most recent consensus estimate is calling for quarterly revenue of $21.82 billion, down 5.95% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.37 per share and revenue of $90.33 billion, which would represent changes of +16.11% and -2.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. FedEx is currently a Zacks Rank #2 (Buy).
In terms of valuation, FedEx is currently trading at a Forward P/E ratio of 14.8. This valuation marks a discount compared to its industry's average Forward P/E of 15.87.
It is also worth noting that FDX currently has a PEG ratio of 1.23. 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 1.69 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 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) Stock Moves -1.15%: What You Should Know
FedEx (FDX - Free Report) closed the most recent trading day at $254.08, moving -1.15% from the previous trading session. This change was narrower than the S&P 500's 1.22% loss on the day. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.
Prior to today's trading, shares of the package delivery company had lost 2.97% over the past month. This has was narrower than the Transportation sector's loss of 4.27% and lagged the S&P 500's gain of 0.54% in that time.
FedEx will be looking to display strength as it nears its next earnings release, which is expected to be September 20, 2023. On that day, FedEx is projected to report earnings of $3.70 per share, which would represent year-over-year growth of 7.56%. Our most recent consensus estimate is calling for quarterly revenue of $21.82 billion, down 5.95% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.37 per share and revenue of $90.33 billion, which would represent changes of +16.11% and -2.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. FedEx is currently a Zacks Rank #2 (Buy).
In terms of valuation, FedEx is currently trading at a Forward P/E ratio of 14.8. This valuation marks a discount compared to its industry's average Forward P/E of 15.87.
It is also worth noting that FDX currently has a PEG ratio of 1.23. 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 1.69 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 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.