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FedEx (FDX) Ascends While Market Falls: Some Facts to Note
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FedEx (FDX - Free Report) ended the recent trading session at $265.60, demonstrating a +0.45% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.54%. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq depreciated by 0.84%.
Heading into today, shares of the package delivery company had gained 6.99% over the past month, lagging the Transportation sector's gain of 11.64% and the S&P 500's gain of 8.62% in that time.
The investment community will be paying close attention to the earnings performance of FedEx in its upcoming release. The company is slated to reveal its earnings on December 19, 2023. The company is predicted to post an EPS of $4.07, indicating a 27.99% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $22.36 billion, showing a 2% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $18.17 per share and a revenue of $89.76 billion, signifying shifts of +21.46% and -0.39%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for FedEx. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.19% higher. Currently, FedEx is carrying a Zacks Rank of #2 (Buy).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 14.55. This denotes a discount relative to the industry's average Forward P/E of 16.07.
Meanwhile, FDX's PEG ratio is currently 1.21. 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. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 1.76.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. With its current Zacks Industry Rank of 35, this industry ranks in the top 14% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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FedEx (FDX) Ascends While Market Falls: Some Facts to Note
FedEx (FDX - Free Report) ended the recent trading session at $265.60, demonstrating a +0.45% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.54%. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq depreciated by 0.84%.
Heading into today, shares of the package delivery company had gained 6.99% over the past month, lagging the Transportation sector's gain of 11.64% and the S&P 500's gain of 8.62% in that time.
The investment community will be paying close attention to the earnings performance of FedEx in its upcoming release. The company is slated to reveal its earnings on December 19, 2023. The company is predicted to post an EPS of $4.07, indicating a 27.99% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $22.36 billion, showing a 2% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $18.17 per share and a revenue of $89.76 billion, signifying shifts of +21.46% and -0.39%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for FedEx. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.19% higher. Currently, FedEx is carrying a Zacks Rank of #2 (Buy).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 14.55. This denotes a discount relative to the industry's average Forward P/E of 16.07.
Meanwhile, FDX's PEG ratio is currently 1.21. 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. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 1.76.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. With its current Zacks Industry Rank of 35, this industry ranks in the top 14% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.