Yahoo Finance FedEx (FDX) Stock Moves 0.89%: What You Should Know
FedEx (FDX) closed at $226.14 in the latest trading session, marking a +0.89% move from the prior day. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 2.33%.
Heading into today, shares of the package delivery company had lost 2.79% over the past month, lagging the Transportation sector's loss of 0.74% and the S&P 500's gain of 1.03% in that time.
Investors will be hoping for strength from FedEx as it approaches its next earnings release, which is expected to be June 20, 2023. On that day, FedEx is projected to report earnings of $4.84 per share, which would represent a year-over-year decline of 29.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.85 billion, down 6.33% from the year-ago period.
FDX's full-year Zacks Consensus Estimates are calling for earnings of $14.93 per share and revenue of $91.07 billion. These results would represent year-over-year changes of -27.56% and -2.62%, respectively.
Investors might also notice recent changes to analyst estimates for FedEx. These revisions help to show the ever-changing nature of near-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. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. FedEx is currently a Zacks Rank #3 (Hold).
Looking at its valuation, FedEx is holding a Forward P/E ratio of 15.02. Its industry sports an average Forward P/E of 15.47, so we one might conclude that FedEx is trading at a discount comparatively.
Investors should also note that FDX has a PEG ratio of 1.25 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FDX's industry had an average PEG ratio of 1.59 as of yesterday's close.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% of all 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.
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
