In its upcoming report, FedEx (FDX) is predicted by Wall Street analysts to post quarterly earnings of $3.65 per share, reflecting an increase of 1.4% compared to the same period last year. Revenues are forecasted to be $21.78 billion, representing a year-over-year increase of 0.9%.
Over the last 30 days, there has been a downward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific FedEx metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- FedEx Freight segment' will reach $2.29 billion. The estimate indicates a year-over-year change of -1.8%.
Analysts expect 'Revenue- Other and eliminations' to come in at $942.88 million. The estimate suggests a change of -0.2% year over year.
It is projected by analysts that the 'FedEx Freight - Weight per shipment - Composite weight per shipment' will reach 917.12 thousand. The estimate compares to the year-ago value of 928.00 thousand.
The average prediction of analysts places 'FedEx Freight - Revenue per hundredweight - Composite revenue per hundredweight' at $40.31 . The estimate compares to the year-ago value of $40.73 .
The consensus estimate for 'Operating income (loss)- FedEx Freight segment' stands at $374.80 million. The estimate is in contrast to the year-ago figure of $439.00 million.
View all Key Company Metrics for FedEx here>>>
Shares of FedEx have experienced a change of +1% in the past month compared to the +2.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), FDX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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FedEx Corporation (FDX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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