PREVIEW: FedEx seen reporting EPS dip after the bell; focus on US tariffs

Shares of FedEx FDX.N were down 0.1% on Thurs, with the co seen reporting a dip in EPS from a yr ago when the co reports quarterly results after the closing bell. Investors will look for any impact of U.S. tariffs on previously exempt parcels

Analysts expect Q1 rev of $21.66 bln vs $21.58 bln in the yr-ago qtr, and EPS of $3.59 vs $3.60 a yr ago, according to LSEG

Analysts' profit estimates have drifted lower ahead of the report

FedEx's fiscal first quarter, which ended on August 31, captures the impact from the May 2 end of the "de minimis" exemptions for packages from China and Hong Kong

Evercore ISI this week downgraded FDX to "in line" from "outperform" and cut its PT to $243 from $249, saying the co's near-term profits are likely to be affected by slower industrial production and consumer spending

The median 12-mo PT on FDX is $268; the stock was last at $225.62

The breakdown of analyst ratings on the stock are 19 "strong buy" or "buy" ratings, nine "hold" ratings and three "sell" or "strong sell" ratings, per LSEG

FDX shares are down about 20% YTD, underperforming the S&P 500 .SPX, which is up about 13% for that period