Expeditors International of Washington (NASDAQ:EXPD) Announces Earnings Results

Expeditors International of Washington (NASDAQ:EXPD) announced its earnings results on Tuesday. The transportation company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.07, Briefing.com reports. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Expeditors International of Washington had a return on equity of 28.43% and a net margin of 8.10%. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share.

Expeditors International of Washington Stock Performance

Shares of EXPD stock opened at $116.84 on Thursday. The stock has a fifty day simple moving average of $117.72 and a two-hundred day simple moving average of $120.35. The firm has a market capitalization of $16.58 billion, a PE ratio of 23.37, a PEG ratio of 8.49 and a beta of 1.00. Expeditors International of Washington has a 52-week low of $107.03 and a 52-week high of $131.17.

Analyst Ratings Changes

A number of research firms recently issued reports on EXPD. Bank of America initiated coverage on shares of Expeditors International of Washington in a report on Friday, March 15th. They issued a “neutral” rating and a $126.00 price objective on the stock. Susquehanna lifted their price target on shares of Expeditors International of Washington from $112.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen upped their price objective on Expeditors International of Washington from $111.00 to $112.00 and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Expeditors International of Washington from $106.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, April 9th. Finally, Stifel Nicolaus boosted their price target on Expeditors International of Washington from $114.00 to $117.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, Expeditors International of Washington presently has an average rating of “Hold” and an average price target of $112.13.

Insider Activity

In related news, VP Jeffrey F. Dickerman sold 2,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $122.63, for a total transaction of $245,260.00. Following the completion of the sale, the vice president now owns 5,728 shares in the company, valued at $702,424.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.