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FedEx (FDX) Increases Yet Falls Behind Market: What Investors Need to Know
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FedEx (FDX - Free Report) closed the most recent trading day at $236.83, moving +0.19% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.96%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 1.3%.
The the stock of package delivery company has fallen by 3.53% in the past month, lagging the Transportation sector's gain of 2.34% and the S&P 500's gain of 3.69%.
Investors will be eagerly watching for the performance of FedEx in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 21, 2024. On that day, FedEx is projected to report earnings of $3.60 per share, which would represent year-over-year growth of 5.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.04 billion, down 0.58% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.76 per share and a revenue of $88.16 billion, signifying shifts of +18.72% and -2.16%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for FedEx. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has remained steady. FedEx is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, FedEx is currently exchanging hands at a Forward P/E ratio of 13.31. This represents a discount compared to its industry's average Forward P/E of 15.37.
Investors should also note that FDX has a PEG ratio of 1.11 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. FDX's industry had an average PEG ratio of 1.74 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 11% 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.
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) Increases Yet Falls Behind Market: What Investors Need to Know
FedEx (FDX - Free Report) closed the most recent trading day at $236.83, moving +0.19% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.96%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 1.3%.
The the stock of package delivery company has fallen by 3.53% in the past month, lagging the Transportation sector's gain of 2.34% and the S&P 500's gain of 3.69%.
Investors will be eagerly watching for the performance of FedEx in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 21, 2024. On that day, FedEx is projected to report earnings of $3.60 per share, which would represent year-over-year growth of 5.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.04 billion, down 0.58% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.76 per share and a revenue of $88.16 billion, signifying shifts of +18.72% and -2.16%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for FedEx. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has remained steady. FedEx is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, FedEx is currently exchanging hands at a Forward P/E ratio of 13.31. This represents a discount compared to its industry's average Forward P/E of 15.37.
Investors should also note that FDX has a PEG ratio of 1.11 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. FDX's industry had an average PEG ratio of 1.74 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 11% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.