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

In the latest close session, FedEx (FDX) was up +1.08% at $258.86. This move outpaced the S&P 500's daily loss of 1.12%. Meanwhile, the Dow experienced a drop of 0.84%, and the technology-dominated Nasdaq saw a decrease of 1.9%. The package delivery company's shares have seen an increase of 6.74% over the last month, surpassing the Transportation sector's loss of 0.84% and the S&P 500's gain of 1.26%.Investors will be eagerly watching for the performance of FedEx in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.99, signifying a 1.48% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.89 billion, up 4.18% from the year-ago period. For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.93 per share and a revenue of $91.81 billion, signifying shifts of -1.43% and +4.42%, respectively, from the last year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for FedEx. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.47% lower. At present, FedEx boasts a Zacks Rank of #3 (Hold). From a valuation perspective, FedEx is currently exchanging hands at a Forward P/E ratio of 14.28. For comparison, its industry has an average Forward P/E of 14.28, which means FedEx is trading at no noticeable deviation to the group. It's also important to note that FDX currently trades at a PEG ratio of 1.43. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. FDX's industry had an average PEG ratio of 2.08 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 100, finds itself in the top 41% echelons 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. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FedEx Corporation (FDX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks