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Why FedEx Could Miss Analysts’ Estimates for Fiscal 1Q18

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Why FedEx Could Miss Analysts’ Estimates for Fiscal 1Q18 PART 1 OF 7

How FedEx Stock Has Fared ahead of Its Fiscal 1Q18 Results

FedEx’s 1Q18 earnings

FedEx (FDX), the global parcel delivery giant, is set to announce its earnings after the market closes on September 19, 2017, at 4:15 PM. The company will report earnings for fiscal 1Q18 and will hold a conference call with institutional investors and securities analysts at 5.00 PM the same day.

How FedEx Stock Has Fared ahead of Its Fiscal 1Q18 Results

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How FDX stock has delivered

Since the beginning of 2017, FedEx’s stock has been range-bound, trading between $180.0 to $195.0 per share. But after its spectacular 4Q17 earnings, the stock shot up on July 14, 2017, and closed at ~$220.0 per share—its highest level in 52 weeks.

FedEx gained from solid e-commerce sales across the US and around the globe. Gains from its TNT acquisition also supported the stock price, aided by higher revenues in all of its business verticals.

Notably, FedEx has returned ~34% to investors over the past year—much higher than United Parcel Service’s (UPS) 9.3% return during the same period. Below are the peer group’s returns over the past year:

  • Old Dominion Freight Line (ODFL): 49%
  • H. Robinson Worldwide (CHRW): 6.8%
  • Expeditors International of Washington (EXPD): 12.5%
  • YRC Worldwide (YRCW): 13%
  • XPO Logistics (XPO) : 85.4%

The SPDR S&P 500 ETF Trust (SPY), a barometer of large-cap stock performances, has returned 17.3% during the same period.

Why read this series?

In this pre-earnings series on FedEx, we’ll evaluate the Thomson Reuters surveyed analysts’ views of the company. Investors should note that the cyberattacks on TNT Express’s systems and the havoc created by Hurricanes Irma and Harvey will likely dampen FedEx’s 1Q18 earnings.

In the next part, we’ll discuss the analysts’ expectations for FedEx’s top line in 1Q18.

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