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ZTO

ZTO Express

$14.01

0.11 (0.79%)

18:02
08/22/17
08/22
18:02
08/22/17
18:02

ZTO Express reports Q2 earnings per ADS 15c, consensus 14c

Reports Q2 revenue $438.3M, consensus $453.57M. "Our business continued to gain growth momentum with parcel volume growth again exceeding the industry average," commented Mr. Meisong Lai, founder and Chief Executive Officer. "Our parcel volume grew by 37.6% year-over-year during the quarter, well above the increase of 30.7% for the industry overall during the same period. Our market share continued to expand as well, underlining just how effective our strategy of balancing growth with service quality and profitability is in strengthening our industry-leading position and aligning the interest of our network partners with ZTO. We continued to optimize parcel mix during the quarter by focusing more on more profitable parcels to improve efficiency and lower unit cost. This resulted in lower average revenue per parcel as parcel weight fell, but our margins continued to expand thanks to our economies of scale and the various cost cutting measures we have been implementing, all without affecting the high quality service we are known for. According to data published by the PRC State Post Bureau, ZTO once again received one of the highest scores for customer satisfaction among the major express delivery companies in China during the quarter. We are increasingly benefiting from our economies of scale and lower unit operating costs. We continue to strengthen our cost leadership position by improving operational efficiency with more automated sorting equipment, putting more of our self-owned fleet on the road instead of outsourced transportation, and increasing the use of digital waybills. These measures contributed to a decrease in cost of revenue per parcel to RMB1.24 during the quarter from RMB1.34 in the same period last year."

  • 22

    Aug

ZTO ZTO Express
$14.01

0.11 (0.79%)

08/18/17
MSCO
08/18/17
NO CHANGE
Target $18.7
MSCO
Overweight
ZTO Express named a long Research Tactial Idea at Morgan Stanley
Morgan Stanley analyst Edward Xu said the price correction in ZTO Express shares over the last 30 days provides an attractive valuation ahead of the August 22 earnings report, which he expects to act as a positive catalyst for shares. ZTO was named a Research Tactical Idea and is rated Overweight with a $18.70 price target.
08/08/17
HSBC
08/08/17
INITIATION
Target $12.5
HSBC
Reduce
ZTO Express initiated with a Reduce at HSBC
HSBC analyst Parash Jain initiated ZTO Express with a Reduce and a $12.50 price target saying a strong 2017 looks priced in but ignores medium-term challenges from e-commerce players and slowing margin and market share growth.
07/11/17
UBSW
07/11/17
INITIATION
Target $17.1
UBSW
Buy
ZTO Express initiated with a Buy at UBS
UBS analyst Eric Lin started ZTO Express with a Buy rating and $17.10 price target.
06/26/17
LYON
06/26/17
INITIATION
LYON
Sell
ZTO Express initiated with a Sell at CLSA

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