Yahoo Finance FedEx (FDX) Gains But Lags Market: What You Should Know
FedEx (FDX) closed the most recent trading day at $190.56, moving +0.22% from the previous trading session. This change lagged the S&P 500's 0.25% gain on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 7.26%.
Prior to today's trading, shares of the package delivery company had gained 8.31% over the past month. This has outpaced the Transportation sector's gain of 2.99% and the S&P 500's gain of 5.73% in that time.
FedEx will be looking to display strength as it nears its next earnings release. On that day, FedEx is projected to report earnings of $2.72 per share, which would represent a year-over-year decline of 40.74%. Meanwhile, our latest consensus estimate is calling for revenue of $22.63 billion, down 4.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.60 per share and revenue of $91.93 billion. These totals would mark changes of -34.01% and -1.7%, respectively, from last 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.38% higher within the past month. FedEx currently has a Zacks Rank of #3 (Hold).
Investors should also note FedEx's current valuation metrics, including its Forward P/E ratio of 13.98. This represents a no noticeable deviation compared to its industry's average Forward P/E of 13.98.
Investors should also note that FDX has a PEG ratio of 1.17 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. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Corporation (FDX) : Free Stock Analysis Report
