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FedEx (FDX) Advances While Market Declines: Some Information for Investors
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FedEx (FDX - Free Report) ended the recent trading session at $255.86, demonstrating a +0.13% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.2% loss on the day. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq depreciated by 0.59%.
The package delivery company's shares have seen an increase of 7.38% over the last month, surpassing the Transportation sector's gain of 4.95% and falling behind the S&P 500's gain of 7.87%.
The upcoming earnings release of FedEx will be of great interest to investors. The company's earnings report is expected on December 19, 2023. The company is expected to report EPS of $4.07, up 27.99% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $22.36 billion, indicating a 2% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $18.14 per share and a revenue of $89.76 billion, demonstrating changes of +21.26% and -0.39%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for FedEx. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, FedEx boasts a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that FedEx has a Forward P/E ratio of 14.09 right now. Its industry sports an average Forward P/E of 15.53, so one might conclude that FedEx is trading at a discount comparatively.
Also, we should mention that FDX has a PEG ratio of 1.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.7.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 37, positioning it in the top 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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FedEx (FDX) Advances While Market Declines: Some Information for Investors
FedEx (FDX - Free Report) ended the recent trading session at $255.86, demonstrating a +0.13% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.2% loss on the day. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq depreciated by 0.59%.
The package delivery company's shares have seen an increase of 7.38% over the last month, surpassing the Transportation sector's gain of 4.95% and falling behind the S&P 500's gain of 7.87%.
The upcoming earnings release of FedEx will be of great interest to investors. The company's earnings report is expected on December 19, 2023. The company is expected to report EPS of $4.07, up 27.99% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $22.36 billion, indicating a 2% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $18.14 per share and a revenue of $89.76 billion, demonstrating changes of +21.26% and -0.39%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for FedEx. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, FedEx boasts a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that FedEx has a Forward P/E ratio of 14.09 right now. Its industry sports an average Forward P/E of 15.53, so one might conclude that FedEx is trading at a discount comparatively.
Also, we should mention that FDX has a PEG ratio of 1.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.7.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 37, positioning it in the top 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.