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FedEx (FDX) Gains But Lags Market: What You Should Know
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FedEx (FDX - Free Report) closed the most recent trading day at $300.14, moving +0.52% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. Elsewhere, the Dow gained 1.64%, while the tech-heavy Nasdaq added 1.03%.
Heading into today, shares of the package delivery company had gained 1.06% over the past month, outpacing the Transportation sector's loss of 0.1% and the S&P 500's loss of 1.16% in that time.
Analysts and investors alike will be keeping a close eye on the performance of FedEx in its upcoming earnings disclosure. The company's earnings report is set to go public on September 19, 2024. It is anticipated that the company will report an EPS of $5.02, marking a 10.33% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $22.18 billion, up 2.28% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $20.94 per share and revenue of $90.1 billion, indicating changes of +17.64% and +2.79%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.75% fall in the Zacks Consensus EPS estimate. At present, FedEx boasts a Zacks Rank of #3 (Hold).
In the context of valuation, FedEx is at present trading with a Forward P/E ratio of 14.26. Its industry sports an average Forward P/E of 18.2, so one might conclude that FedEx is trading at a discount comparatively.
It's also important to note that FDX currently trades at a PEG ratio of 1.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.66 as trading concluded yesterday.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. With its current Zacks Industry Rank of 238, this industry ranks in the bottom 6% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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FedEx (FDX) Gains But Lags Market: What You Should Know
FedEx (FDX - Free Report) closed the most recent trading day at $300.14, moving +0.52% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. Elsewhere, the Dow gained 1.64%, while the tech-heavy Nasdaq added 1.03%.
Heading into today, shares of the package delivery company had gained 1.06% over the past month, outpacing the Transportation sector's loss of 0.1% and the S&P 500's loss of 1.16% in that time.
Analysts and investors alike will be keeping a close eye on the performance of FedEx in its upcoming earnings disclosure. The company's earnings report is set to go public on September 19, 2024. It is anticipated that the company will report an EPS of $5.02, marking a 10.33% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $22.18 billion, up 2.28% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $20.94 per share and revenue of $90.1 billion, indicating changes of +17.64% and +2.79%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.75% fall in the Zacks Consensus EPS estimate. At present, FedEx boasts a Zacks Rank of #3 (Hold).
In the context of valuation, FedEx is at present trading with a Forward P/E ratio of 14.26. Its industry sports an average Forward P/E of 18.2, so one might conclude that FedEx is trading at a discount comparatively.
It's also important to note that FDX currently trades at a PEG ratio of 1.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.66 as trading concluded yesterday.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. With its current Zacks Industry Rank of 238, this industry ranks in the bottom 6% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.