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FedEx (FDX) Stock Sinks As Market Gains: What You Should Know

FedEx (FDX) closed the most recent trading day at $247.59, moving -0.68% from the previous trading session. This change lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.1%.

Heading into today, shares of the package delivery company had lost 6.11% over the past month, lagging the Transportation sector's loss of 2.76% and the S&P 500's gain of 4.03% in that time.

The investment community will be closely monitoring the performance of FedEx in its forthcoming earnings report. The company is scheduled to release its earnings on June 25, 2024. The company is expected to report EPS of $5.33, up 7.89% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $22.12 billion, up 0.89% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $17.69 per share and a revenue of $87.75 billion, demonstrating changes of +18.25% and -2.62%, respectively, from the preceding year.


It's also important for investors to be aware of any recent modifications to analyst estimates 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% downward. FedEx presently features a Zacks Rank of #3 (Hold).

Looking at valuation, FedEx is presently trading at a Forward P/E ratio of 14.09. For comparison, its industry has an average Forward P/E of 17.39, which means FedEx is trading at a discount to the group.

Investors should also note that FDX has a PEG ratio of 1.04 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. FDX's industry had an average PEG ratio of 1.49 as of yesterday's close.

The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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