FedEx (FDX) closed the most recent trading day at $268.05, moving -0.64% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.92% for the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, lost 1.6%.

Shares of the package delivery company have appreciated by 1% over the course of the past month, outperforming the Transportation sector's loss of 0.3% and lagging the S&P 500's gain of 2.68%.

Analysts and investors alike will be keeping a close eye on the performance of FedEx in its upcoming earnings disclosure. The company is predicted to post an EPS of $3.88, indicating a 2.76% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $22.19 billion, indicating a 0.13% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $19.60 per share and a revenue of $88.7 billion, demonstrating changes of +10.11% and +1.19%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for FedEx. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.19% upward. Right now, FedEx possesses a Zacks Rank of #4 (Sell).

Looking at its valuation, FedEx is holding a Forward P/E ratio of 13.77. This represents a discount compared to its industry's average Forward P/E of 18.44.

Also, we should mention that FDX has a PEG ratio of 1.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Transportation - Air Freight and Cargo industry currently had an average PEG ratio of 1.81 as of yesterday's close.