Expeditors International of Washington (NASDAQ:EXPD) Releases Quarterly Earnings Results, Beats Estimates By $0.34 EPS

Expeditors International of Washington (NASDAQ:EXPD) released its quarterly earnings data on Tuesday. The transportation company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.34, Briefing.com reports. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 EPS.

Expeditors International of Washington Stock Up 0.1%

Shares of NASDAQ EXPD opened at $170.69 on Tuesday. The firm has a market cap of $22.32 billion, a PE ratio of 29.96, a P/E/G ratio of 5.00 and a beta of 1.04. The company’s fifty day simple moving average is $166.90 and its 200 day simple moving average is $156.51. Expeditors International of Washington has a 12-month low of $112.94 and a 12-month high of $183.52.

Hedge Funds Weigh In On Expeditors International of Washington

Several institutional investors have recently made changes to their positions in the stock. Compound Planning Inc. boosted its position in shares of Expeditors International of Washington by 18.6% during the 4th quarter. Compound Planning Inc. now owns 2,331 shares of the transportation company’s stock worth $347,000 after purchasing an additional 366 shares in the last quarter. Corient Private Wealth LLC increased its position in Expeditors International of Washington by 61.6% in the 4th quarter. Corient Private Wealth LLC now owns 53,385 shares of the transportation company’s stock valued at $7,868,000 after buying an additional 20,343 shares in the last quarter. Alberta Investment Management Corp bought a new stake in Expeditors International of Washington in the 4th quarter valued at about $5,074,000. Mercer Global Advisors Inc. ADV raised its stake in Expeditors International of Washington by 4.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 29,321 shares of the transportation company’s stock worth $4,369,000 after buying an additional 1,260 shares during the period. Finally, Front Street Capital Management Inc. raised its stake in Expeditors International of Washington by 4.3% during the 4th quarter. Front Street Capital Management Inc. now owns 10,943 shares of the transportation company’s stock worth $1,631,000 after buying an additional 449 shares during the period. Institutional investors and hedge funds own 94.02% of the company’s stock.

Wall Street Analyst Weigh In

EXPD has been the subject of several research reports. Truist Financial increased their target price on Expeditors International of Washington from $145.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Bank of America raised their price objective on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Citizens Jmp started coverage on shares of Expeditors International of Washington in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. UBS Group increased their price objective on Expeditors International of Washington from $175.00 to $191.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Stephens raised Expeditors International of Washington to a “strong-buy” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $153.78.

Expeditors International of Washington Company Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.