FedEx (FDX) closed the most recent trading day at $172.39, moving -0.12% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.26%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Coming into today, shares of the package delivery company had gained 5.91% in the past month. In that same time, the Transportation sector gained 3.08%, while the S&P 500 gained 2.87%.
FDX will be looking to display strength as it nears its next earnings release. In that report, analysts expect FDX to post earnings of $3.20 per share. This would mark a year-over-year decline of 7.51%. Our most recent consensus estimate is calling for quarterly revenue of $17.14 billion, up 0.49% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.61 per share and revenue of $71.10 billion. These totals would mark changes of -5.86% and +2.02%, respectively, from last year.
Any recent changes to analyst estimates for FDX should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.71% lower within the past month. FDX is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, FDX currently has a Forward P/E ratio of 11.82. For comparison, its industry has an average Forward P/E of 11.82, which means FDX is trading at a no noticeable deviation to the group.
Meanwhile, FDX's PEG ratio is currently 0.93. 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 1.37 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 36, which puts it in the top 15% 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.
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