FedEx (NYSE:FDX) is slated to release its fourth quarter Fiscal 2024 results on June 25, after the market closes. It is worth noting that, ahead of the Q4 release, FDX’s web traffic increased year-over-year during the quarter, indicating strong demand for its offerings.
Investors can gain insights into a company’s upcoming earnings report with TipRanks’ Website Traffic Tool. It offers information about the performance of a company’s website domain over a specific time frame.
Learn how Website Traffic can help you research your favorite stocks.
With this background, let’s take a closer look at the company’s website traffic trends and the analysts’ expectations about its upcoming earnings report.
Encouraging Website Traffic Trend
As per the website traffic tool, total visits to fedex.com were up 15.4% year-over-year during the fiscal fourth quarter. The company’s website traffic jumped to 637.47 million visits from 552.39 million in the year-ago quarter.
The rising traffic indicates that the demand for the company’s delivery services remained robust during the quarter and might have supported top-line growth.
What Is Wall Street Saying About FedEx’s Q4 Earnings?
Wall Street analysts are projecting year-over-year growth in both earnings and revenues in Q4. FedEx is expected to report sales of $22.05 billion and earnings of $5.34 per share in Q4.
According to the TipRanks Stock Analysis tool, “Bulls Say, Bears Say,” analysts bearish on FedEx expect revenue to decline due to a weak macroeconomic scenario. Also, the loss of a major air cargo contract with the United States Postal Service (USPS) is expected to impact its financial performance.
On the other hand, bullish analysts believe that FDX is well poised to benefit from its efforts to reduce costs. Also, they noted that the FDX stock is undervalued as its current price-to-earnings ratio is trading at the low end of its historical range.
This potentially undervalued position could represent an attractive entry point for investors considering FDX. For a thorough assessment of the stock, go to TipRanks’ Stock Analysis page.
Is FedEx a Buy, Sell, or Hold?
Wall Street is cautiously optimistic about FedEx. It has a Moderate Buy consensus rating based on 10 Buy, four Hold, and one Sell ratings. The analysts’ average price target on FedEx stock of $299.83 implies 18.2% upside potential. Shares of the company have declined 10.2% in the past three months.
