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FedEx (FDX) Ascends While Market Falls: Some Facts to Note
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The most recent trading session ended with FedEx (FDX - Free Report) standing at $288.44, reflecting a +0.01% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.2% loss on the day. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq decreased by 0.34%.
Shares of the package delivery company have depreciated by 6.18% over the course of the past month, outperforming the Transportation sector's loss of 14.69% and lagging the S&P 500's gain of 1.93%.
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 September 19, 2024. The company's earnings per share (EPS) are projected to be $5.02, reflecting a 10.33% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $22.18 billion, indicating a 2.28% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $20.94 per share and a revenue of $90.1 billion, demonstrating changes of +17.64% and +2.79%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for FedEx. Recent revisions tend to reflect the latest near-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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, FedEx is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that FedEx has a Forward P/E ratio of 13.78 right now. Its industry sports an average Forward P/E of 17.37, so one might conclude that FedEx is trading at a discount comparatively.
Investors should also note that FDX has a PEG ratio of 1.04 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.46.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
To follow FDX in the coming trading sessions, be sure to utilize Zacks.com.
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FedEx (FDX) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with FedEx (FDX - Free Report) standing at $288.44, reflecting a +0.01% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.2% loss on the day. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq decreased by 0.34%.
Shares of the package delivery company have depreciated by 6.18% over the course of the past month, outperforming the Transportation sector's loss of 14.69% and lagging the S&P 500's gain of 1.93%.
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 September 19, 2024. The company's earnings per share (EPS) are projected to be $5.02, reflecting a 10.33% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $22.18 billion, indicating a 2.28% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $20.94 per share and a revenue of $90.1 billion, demonstrating changes of +17.64% and +2.79%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for FedEx. Recent revisions tend to reflect the latest near-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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, FedEx is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that FedEx has a Forward P/E ratio of 13.78 right now. Its industry sports an average Forward P/E of 17.37, so one might conclude that FedEx is trading at a discount comparatively.
Investors should also note that FDX has a PEG ratio of 1.04 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.46.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
To follow FDX in the coming trading sessions, be sure to utilize Zacks.com.