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The latest trading session saw FedEx (FDX - Free Report) ending at $278.62, denoting a +0.18% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 2.3% for the day. On the other hand, the Dow registered a gain of 1.76%, and the technology-centric Nasdaq increased by 2.87%.
Shares of the package delivery company have depreciated by 5.16% over the course of the past month, outperforming the Transportation sector's loss of 20.41% and the S&P 500's loss of 6.5%.
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. In that report, analysts expect FedEx to post earnings of $5.02 per share. This would mark year-over-year growth of 10.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.18 billion, up 2.28% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $20.94 per share and a revenue of $90.1 billion, indicating changes of +17.64% and +2.79%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for FedEx. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
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 last 30 days, the Zacks Consensus EPS estimate has moved 0.02% lower. As of now, FedEx holds a Zacks Rank of #3 (Hold).
Looking at valuation, FedEx is presently trading at a Forward P/E ratio of 13.28. This expresses a discount compared to the average Forward P/E of 16.65 of its industry.
It's also important to note that FDX currently trades at a PEG ratio of 1. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 8% 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) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The latest trading session saw FedEx (FDX - Free Report) ending at $278.62, denoting a +0.18% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 2.3% for the day. On the other hand, the Dow registered a gain of 1.76%, and the technology-centric Nasdaq increased by 2.87%.
Shares of the package delivery company have depreciated by 5.16% over the course of the past month, outperforming the Transportation sector's loss of 20.41% and the S&P 500's loss of 6.5%.
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. In that report, analysts expect FedEx to post earnings of $5.02 per share. This would mark year-over-year growth of 10.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.18 billion, up 2.28% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $20.94 per share and a revenue of $90.1 billion, indicating changes of +17.64% and +2.79%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for FedEx. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
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 last 30 days, the Zacks Consensus EPS estimate has moved 0.02% lower. As of now, FedEx holds a Zacks Rank of #3 (Hold).
Looking at valuation, FedEx is presently trading at a Forward P/E ratio of 13.28. This expresses a discount compared to the average Forward P/E of 16.65 of its industry.
It's also important to note that FDX currently trades at a PEG ratio of 1. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 8% 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.