Expeditors International of Washington (NASDAQ:EXPD) Releases Earnings Results, Beats Expectations By $0.63 EPS
Expeditors International of Washington (NASDAQ:EXPD) announced its quarterly earnings results on Tuesday. The transportation company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.63, MarketWatch Earnings reports. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $2.67 billion. Expeditors International of Washington had a net margin of 7.06% and a return on equity of 28.55%. Expeditors International of Washington’s revenue for the quarter was up 76.5% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS.
EXPD traded up $1.11 during trading on Tuesday, hitting $114.19. The company’s stock had a trading volume of 107,030 shares, compared to its average volume of 1,075,835. Expeditors International of Washington has a twelve month low of $69.54 and a twelve month high of $113.84. The stock’s fifty day moving average price is $107.84 and its 200-day moving average price is $96.37. The firm has a market capitalization of $19.26 billion, a P/E ratio of 30.32 and a beta of 0.75.
EXPD has been the topic of several research analyst reports. Cowen raised their target price on shares of Expeditors International of Washington from $97.00 to $109.00 and gave the stock a “market perform” rating in a report on Wednesday, February 17th. Morgan Stanley raised their target price on shares of Expeditors International of Washington from $78.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 13th. Barclays downgraded shares of Expeditors International of Washington from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 13th. Zacks Investment Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating and set a $106.00 target price on the stock in a report on Tuesday, January 5th. Finally, Vertical Research initiated coverage on shares of Expeditors International of Washington in a research note on Friday, March 26th. They set a “buy” rating for the company. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $90.67.
Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. 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, 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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