Expeditors International of Washington (NASDAQ:EXPD) Issues Quarterly Earnings Results, Beats Expectations By $0.30 EPS

by · The Cerbat Gem

Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) announced its quarterly earnings results on Tuesday. The transportation company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.30, Briefing.com reports. Expeditors International of Washington had a return on equity of 29.15% and a net margin of 7.40%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the business earned $1.16 EPS. Expeditors International of Washington’s revenue for the quarter was up 37.0% on a year-over-year basis.

Expeditors International of Washington Trading Down 2.9 %

Shares of EXPD traded down $3.57 during mid-day trading on Wednesday, reaching $118.45. The company had a trading volume of 1,977,661 shares, compared to its average volume of 1,216,013. The firm has a fifty day simple moving average of $122.56 and a 200-day simple moving average of $121.29. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 5.03 and a beta of 0.98. Expeditors International of Washington has a fifty-two week low of $107.03 and a fifty-two week high of $131.59.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Bank of America upped their target price on Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Wolfe Research downgraded shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, August 7th. TD Cowen increased their target price on shares of Expeditors International of Washington from $106.00 to $108.00 and gave the stock a “sell” rating in a research note on Wednesday. Finally, Barclays boosted their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $115.00.

Read Our Latest Analysis on EXPD

About Expeditors International of Washington

(Get Free Report)

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.

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