Expeditors International of Washington, Inc. (EXPD) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Expeditors International of Washington, Inc. (NASDAQ:EXPD) issued its earnings results on Monday. The transportation company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.06, Briefing.com reports. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.72 billion. Expeditors International of Washington had a net margin of 6.54% and a return on equity of 22.03%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share.
Shares of Expeditors International of Washington (NASDAQ EXPD) traded up $4.45 during trading on Tuesday, reaching $61.94. 2,010,000 shares of the company were exchanged, compared to its average volume of 823,048. Expeditors International of Washington has a 12 month low of $47.23 and a 12 month high of $62.63. The company has a market capitalization of $11,190.00, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 3.11 and a beta of 0.68.
A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Expeditors International of Washington from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating on shares of Expeditors International of Washington in a research report on Tuesday, July 11th. Stifel Nicolaus restated a “hold” rating and set a $52.00 price objective (down previously from $54.00) on shares of Expeditors International of Washington in a research report on Friday, August 11th. Finally, Barclays PLC increased their price objective on shares of Expeditors International of Washington from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.00.
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Expeditors International of Washington Company Profile
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.
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