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FedEx (FDX - Free Report) closed at $305.15 in the latest trading session, marking a +1.73% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.3% for the day. Elsewhere, the Dow gained 0.99%, while the tech-heavy Nasdaq added 0.27%.
The the stock of package delivery company has risen by 10.23% in the past month, leading the Transportation sector's gain of 4.52% and the S&P 500's gain of 2.1%.
Market participants will be closely following the financial results of FedEx in its upcoming release. The company plans to announce its earnings on December 19, 2024. The company is forecasted to report an EPS of $3.88, showcasing a 2.76% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $22.19 billion, reflecting a 0.13% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.60 per share and revenue of $88.7 billion, indicating changes of +10.11% and +1.19%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for FedEx. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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, there's been no change in the Zacks Consensus EPS estimate. FedEx presently features a Zacks Rank of #4 (Sell).
Looking at its valuation, FedEx is holding a Forward P/E ratio of 15.31. This signifies a discount in comparison to the average Forward P/E of 19.93 for its industry.
It is also worth noting that FDX currently has a PEG ratio of 1.25. 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 1.82 at the close of the market yesterday.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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FedEx (FDX) Rises Higher Than Market: Key Facts
FedEx (FDX - Free Report) closed at $305.15 in the latest trading session, marking a +1.73% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.3% for the day. Elsewhere, the Dow gained 0.99%, while the tech-heavy Nasdaq added 0.27%.
The the stock of package delivery company has risen by 10.23% in the past month, leading the Transportation sector's gain of 4.52% and the S&P 500's gain of 2.1%.
Market participants will be closely following the financial results of FedEx in its upcoming release. The company plans to announce its earnings on December 19, 2024. The company is forecasted to report an EPS of $3.88, showcasing a 2.76% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $22.19 billion, reflecting a 0.13% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.60 per share and revenue of $88.7 billion, indicating changes of +10.11% and +1.19%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for FedEx. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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, there's been no change in the Zacks Consensus EPS estimate. FedEx presently features a Zacks Rank of #4 (Sell).
Looking at its valuation, FedEx is holding a Forward P/E ratio of 15.31. This signifies a discount in comparison to the average Forward P/E of 19.93 for its industry.
It is also worth noting that FDX currently has a PEG ratio of 1.25. 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 1.82 at the close of the market yesterday.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.