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FedEx (FDX) closed at $314.69 in the latest trading session, marking a +1.2% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.74%.
Heading into today, shares of the package delivery company had gained 9.32% over the past month, outpacing the Transportation sector's gain of 5.14% and the S&P 500's gain of 3.21% in that time.
FDX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $4.77, up 88.54% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $21.09 billion, up 21.47% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.96 per share and revenue of $82.39 billion. These totals would mark changes of +89.05% and +19.03%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for FDX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. FDX is currently a Zacks Rank #3 (Hold).
Digging into valuation, FDX currently has a Forward P/E ratio of 17.32. For comparison, its industry has an average Forward P/E of 16.69, which means FDX is trading at a premium to the group.
It is also worth noting that FDX currently has a PEG ratio of 1.44. 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. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.92 based on yesterday's closing prices.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 17% 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.
To follow FDX in the coming trading sessions, be sure to utilize Zacks.com.
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