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Why FedEx (FDX) Could Be Positioned for a Surge

Zacks Equity Research
·2 min read

FedEx Corporation FDX is the leader in global express delivery services that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on FDX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that FedEx could be a solid choice for investors.

Current Quarter Estimates for FDX

In the past 30 days, seven estimates have gone higher for FedEx while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $2.20 a share 30 days ago, to $3.80 today, a move of 72.7%.

Current Year Estimates for FDX

Meanwhile, FedEx’s current year figures are also looking quite promising, with eleven estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $10.43 per share 30 days ago to $15.14 per share today, an increase of 45.2%.

FedEx Corporation Price and Consensus

FedEx Corporation Price and Consensus
FedEx Corporation Price and Consensus

FedEx Corporation price-consensus-chart | FedEx Corporation Quote

Bottom Line

The stock has also started to move higher lately, adding 15.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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