In the latest market close, FedEx (FDX) reached $210.33, with a +0.23% movement compared to the previous day. This change outpaced the S&P 500's 0.15% gain on the day. On the other hand, the Dow registered a gain of 0.35%, and the technology-centric Nasdaq decreased by 0.09%.
Shares of the package delivery company witnessed a loss of 13.28% over the previous month, trailing the performance of the Transportation sector with its loss of 6.09% and the S&P 500's loss of 0.21%.
Market participants will be closely following the financial results of FedEx in its upcoming release. On that day, FedEx is projected to report earnings of $6.03 per share, which would represent year-over-year growth of 11.46%. Our most recent consensus estimate is calling for quarterly revenue of $21.8 billion, down 1.41% from the year-ago period.
FDX's full-year Zacks Consensus Estimates are calling for earnings of $18.21 per share and revenue of $87.46 billion. These results would represent year-over-year changes of +2.3% and -0.23%, respectively.
It is also important to note the recent changes to analyst estimates for FedEx. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.07% increase. FedEx is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, FedEx is holding a Forward P/E ratio of 11.52. This valuation marks a discount compared to its industry's average Forward P/E of 12.7.
Also, we should mention that FDX has a PEG ratio of 1.08. 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. The average PEG ratio for the Transportation - Air Freight and Cargo industry stood at 1.36 at the close of the market yesterday.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 89, placing it within the top 36% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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FedEx Corporation (FDX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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