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FedEx (FDX) Stock Moves -1.77%: What You Should Know
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FedEx (FDX - Free Report) closed at $293.48 in the latest trading session, marking a -1.77% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.12%. At the same time, the Dow lost 1.51%, and the tech-heavy Nasdaq lost 3.26%.
The the stock of package delivery company has risen by 5.54% in the past month, leading the Transportation sector's gain of 4.99% and undershooting the S&P 500's gain of 5.78%.
The upcoming earnings release of FedEx will be of great interest to investors. The company's earnings report is expected on September 19, 2024. The company's upcoming EPS is projected at $4.92, signifying an 8.13% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $22.18 billion, showing a 2.28% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $20.88 per share and a revenue of $90.1 billion, indicating changes of +17.3% and +2.79%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for FedEx. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.29% lower. At present, FedEx boasts a Zacks Rank of #3 (Hold).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 14.31. Its industry sports an average Forward P/E of 17.64, so one might conclude that FedEx is trading at a discount comparatively.
Investors should also note that FDX has a PEG ratio of 1.08 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 1.5.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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FedEx (FDX) Stock Moves -1.77%: What You Should Know
FedEx (FDX - Free Report) closed at $293.48 in the latest trading session, marking a -1.77% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.12%. At the same time, the Dow lost 1.51%, and the tech-heavy Nasdaq lost 3.26%.
The the stock of package delivery company has risen by 5.54% in the past month, leading the Transportation sector's gain of 4.99% and undershooting the S&P 500's gain of 5.78%.
The upcoming earnings release of FedEx will be of great interest to investors. The company's earnings report is expected on September 19, 2024. The company's upcoming EPS is projected at $4.92, signifying an 8.13% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $22.18 billion, showing a 2.28% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $20.88 per share and a revenue of $90.1 billion, indicating changes of +17.3% and +2.79%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for FedEx. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.29% lower. At present, FedEx boasts a Zacks Rank of #3 (Hold).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 14.31. Its industry sports an average Forward P/E of 17.64, so one might conclude that FedEx is trading at a discount comparatively.
Investors should also note that FDX has a PEG ratio of 1.08 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 1.5.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.