Expeditors International of Washington, Inc. (EXPD) Announces Earnings Results

Expeditors International of Washington, Inc. (NASDAQ:EXPD) posted its earnings results on Tuesday. The transportation company reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60, Briefing.com reports. Expeditors International of Washington had a net margin of 6.87% and a return on equity of 23.01%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Expeditors International of Washington’s revenue for the quarter was up 13.4% compared to the same quarter last year.

Shares of Expeditors International of Washington (NASDAQ:EXPD) traded down 5.32% during mid-day trading on Tuesday, hitting $55.92. 2,594,729 shares of the stock traded hands. Expeditors International of Washington has a one year low of $47.23 and a one year high of $59.90. The stock has a 50 day moving average price of $57.27 and a 200-day moving average price of $55.53. The company has a market cap of $10.07 billion, a P/E ratio of 23.90 and a beta of 0.65.

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Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Expeditors International of Washington by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,172,075 shares of the transportation company’s stock worth $1,083,031,000 after buying an additional 450,763 shares during the last quarter. BlackRock Inc. raised its stake in Expeditors International of Washington by 1,951.4% in the first quarter. BlackRock Inc. now owns 14,494,247 shares of the transportation company’s stock worth $818,780,000 after buying an additional 13,787,678 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Expeditors International of Washington by 0.3% in the first quarter. Loomis Sayles & Co. L P now owns 13,961,384 shares of the transportation company’s stock worth $788,679,000 after buying an additional 47,501 shares during the last quarter. State Street Corp raised its stake in Expeditors International of Washington by 0.6% in the first quarter. State Street Corp now owns 10,805,641 shares of the transportation company’s stock worth $610,406,000 after buying an additional 69,252 shares during the last quarter. Finally, FMR LLC raised its stake in Expeditors International of Washington by 43.0% in the first quarter. FMR LLC now owns 4,754,505 shares of the transportation company’s stock worth $268,582,000 after buying an additional 1,429,041 shares during the last quarter. Institutional investors and hedge funds own 94.09% of the company’s stock.

A number of research analysts have commented on the stock. BidaskClub raised shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Expeditors International of Washington in a research report on Tuesday, July 11th. Vertical Research reissued a “hold” rating and set a $63.00 price target on shares of Expeditors International of Washington in a research report on Thursday, April 13th. Seaport Global Securities reissued a “neutral” rating on shares of Expeditors International of Washington in a research report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Expeditors International of Washington from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $57.20.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a logistics company. The Company is a third-party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

Earnings History for Expeditors International of Washington (NASDAQ:EXPD)

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