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