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FedEx (FDX) Rises Higher Than Market: Key Facts

The most recent trading session ended with FedEx (FDX) standing at $250.06, reflecting a +1.47% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.77%. At the same time, the Dow added 0.49%, and the tech-heavy Nasdaq gained 0.95%.

Shares of the package delivery company witnessed a loss of 4.21% over the previous month, beating the performance of the Transportation sector with its loss of 5.79% and underperforming the S&P 500's gain of 3.71%.

The investment community will be closely monitoring the performance of FedEx in its forthcoming earnings report. The company is scheduled to release its earnings on June 25, 2024. The company's upcoming EPS is projected at $5.34, signifying an 8.1% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $22.12 billion, reflecting a 0.85% rise from the equivalent quarter last year.

Investors should also take note of any recent adjustments to analyst estimates 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.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 moved 0.91% lower. Right now, FedEx possesses a Zacks Rank of #3 (Hold).

In terms of valuation, FedEx is currently trading at a Forward P/E ratio of 12.12. Its industry sports an average Forward P/E of 16.63, so one might conclude that FedEx is trading at a discount comparatively.

Investors should also note that FDX has a PEG ratio of 0.89 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. By the end of yesterday's trading, the Transportation - Air Freight and Cargo industry had an average PEG ratio of 1.44.

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 evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 Corporation (FDX) : Free Stock Analysis Report

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