FDS’s Uniform Adjusted EPS’ is not projected to shrink, contrary to as-reported EPS projections, and recent underperformance is therefore unwarranted

• FDS’s profitability is materially distorted by accounting for operating leases and stock option expenses

• As such, their UAFRS EPS’ is expected to grow to $2.02 in Q3 2017, and EPS’ over the next four quarters is expected to grow by 8%, not shrink

• At current valuations, markets are embedding expectations for annual EPS’ growth of 3%, which is only half of longer-term analyst projections, suggesting further upside is likely warranted

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Submitted June 22, 2017 at 10:19PM by Valens_Research http://ift.tt/2t0yqth