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

Expeditors International of Washington (NASDAQ:EXPD) released its quarterly earnings results on Tuesday. The transportation company reported $1.63 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was up 37.0% compared to the same quarter last year.

Expeditors International of Washington Stock Performance

Shares of EXPD stock traded down $3.57 during midday trading on Wednesday, reaching $118.45. 1,977,661 shares of the company were exchanged, compared to its average volume of 1,216,013. Expeditors International of Washington has a 12 month low of $107.03 and a 12 month high of $131.59. The company has a market cap of $16.72 billion, a P/E ratio of 24.67, a PEG ratio of 5.03 and a beta of 0.98. The company’s 50 day moving average price is $122.56 and its two-hundred day moving average price is $121.29.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday. Benchmark reaffirmed a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, August 7th. UBS Group upgraded Expeditors International of Washington from a “sell” rating to a “neutral” rating and upped their price objective for the company from $95.00 to $137.00 in a research note on Thursday, August 1st. TD Cowen lifted their target price on Expeditors International of Washington from $106.00 to $108.00 and gave the stock a “sell” rating in a research report on Wednesday. Finally, Wolfe Research lowered shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, Expeditors International of Washington currently has a consensus rating of “Hold” and a consensus target price of $115.00.

Expeditors International of Washington Company Profile

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.