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FedEx (FDX) Stock Declines While Market Improves: Some Information for Investors
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In the latest market close, FedEx (FDX - Free Report) reached $252.43, with a -0.51% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.27% for the day. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq increased by 0.88%.
The package delivery company's stock has dropped by 4.93% in the past month, falling short of the Transportation sector's loss of 3.57% and the S&P 500's gain of 2.85%.
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 June 25, 2024. On that day, FedEx is projected to report earnings of $5.34 per share, which would represent year-over-year growth of 8.1%. At the same time, our most recent consensus estimate is projecting a revenue of $22.12 billion, reflecting a 0.85% rise from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for FedEx. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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. The Zacks Consensus EPS estimate has moved 0.91% lower within the past month. Currently, FedEx is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, FedEx currently has a Forward P/E ratio of 12.48. This valuation marks a discount compared to its industry's average Forward P/E of 17.36.
We can additionally observe that FDX currently boasts a PEG ratio of 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.52.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
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) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, FedEx (FDX - Free Report) reached $252.43, with a -0.51% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.27% for the day. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq increased by 0.88%.
The package delivery company's stock has dropped by 4.93% in the past month, falling short of the Transportation sector's loss of 3.57% and the S&P 500's gain of 2.85%.
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 June 25, 2024. On that day, FedEx is projected to report earnings of $5.34 per share, which would represent year-over-year growth of 8.1%. At the same time, our most recent consensus estimate is projecting a revenue of $22.12 billion, reflecting a 0.85% rise from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for FedEx. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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. The Zacks Consensus EPS estimate has moved 0.91% lower within the past month. Currently, FedEx is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, FedEx currently has a Forward P/E ratio of 12.48. This valuation marks a discount compared to its industry's average Forward P/E of 17.36.
We can additionally observe that FDX currently boasts a PEG ratio of 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.52.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.