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FedEx (FDX) Rises But Trails Market: What Investors Should Know
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FedEx (FDX - Free Report) closed the most recent trading day at $283.33, moving +0.08% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.38% for the day. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 0.03%.
The package delivery company's stock has dropped by 9.7% in the past month, exceeding the Transportation sector's loss of 19.65% and lagging the S&P 500's loss of 3.2%.
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. The company's upcoming EPS is projected at $5.02, signifying a 10.33% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $22.18 billion, reflecting a 2.28% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $20.94 per share and a revenue of $90.1 billion, representing changes of +17.64% and +2.79%, respectively, from the prior year.
Any recent changes to analyst estimates for FedEx should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% downward. FedEx is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 13.52. For comparison, its industry has an average Forward P/E of 16.78, which means FedEx is trading at a discount to the group.
We can also see that FDX currently has a PEG ratio of 1.02. 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. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 1.41.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 But Trails Market: What Investors Should Know
FedEx (FDX - Free Report) closed the most recent trading day at $283.33, moving +0.08% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.38% for the day. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 0.03%.
The package delivery company's stock has dropped by 9.7% in the past month, exceeding the Transportation sector's loss of 19.65% and lagging the S&P 500's loss of 3.2%.
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. The company's upcoming EPS is projected at $5.02, signifying a 10.33% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $22.18 billion, reflecting a 2.28% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $20.94 per share and a revenue of $90.1 billion, representing changes of +17.64% and +2.79%, respectively, from the prior year.
Any recent changes to analyst estimates for FedEx should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% downward. FedEx is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 13.52. For comparison, its industry has an average Forward P/E of 16.78, which means FedEx is trading at a discount to the group.
We can also see that FDX currently has a PEG ratio of 1.02. 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. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 1.41.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.