Is Fedex Corp (NYSE:FDX) Predicted To Soar?

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Fedex Corp (NYSE:FDX) price on Wednesday, May 29, fall -1.18% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $245.11.

A look at the stock’s price movement, the close in the last trading session was $248.04. The PE ratio in trailing twelve months stood at 14.13. Turning to its 52-week performance, $291.27 and $213.80 were the 52-week high and 52-week low respectively. Overall, FDX moved -7.80% over the past month.

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Fedex Corp’s market cap currently stands at around $60.32 billion. The company has a Forward Dividend ratio of 5.04, with its dividend yield at 2.06%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.

Analysts have a consensus estimate of 22.07B for the company’s revenue for the quarter, with a low and high estimate of 21.63B and 22.48B respectively. The average forecast suggests up to a 0.70% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 87.71B, representing a -2.70% decline on that reported in the last financial year.

Turning to the stock’s technical picture we see that short term indicators suggest on average that FDX is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.

The technical evaluation for the stock shows the PEG ratio is 0.80, with FDX’s current price about -4.92% and -7.85% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 27.26, while 7-day volatility ratio is 1.47% and 1.52% in the 30-day chart. Further, Fedex Corp (FDX) has a beta value of 1.16, and an average true range (ATR) of 4.20.

If we refocus on Fedex Corp (NYSE:FDX), historical trading data shows that trading volumes averaged 1.74 million over the past 3 months. The company’s latest data on shares outstanding shows there are 251.19 million shares.

The 8.82% of Fedex Corp’s shares are in the hands of company insiders while institutional holders own 77.23% of the company’s shares. Current price change has pushed the stock -3.11% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the FDX stock continues to rise going into the next quarter.

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