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

Expeditors International of Washington (NASDAQ:EXPD) announced its earnings results on Tuesday. The transportation company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.30, Briefing.com reports. Expeditors International of Washington had a net margin of 7.40% and a return on equity of 29.15%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Expeditors International of Washington’s revenue was up 37.0% compared to the same quarter last year.

Expeditors International of Washington Trading Down 2.3 %

NASDAQ EXPD traded down $2.85 during trading hours on Wednesday, reaching $119.17. 2,191,649 shares of the company’s stock were exchanged, compared to its average volume of 1,216,716. The firm has a fifty day moving average of $122.56 and a 200-day moving average of $121.29. Expeditors International of Washington has a one year low of $107.03 and a one year high of $131.59. The stock has a market cap of $16.82 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 5.03 and a beta of 0.98.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EXPD. TD Cowen boosted their price objective on shares of Expeditors International of Washington from $106.00 to $108.00 and gave the stock a “sell” rating in a report on Wednesday. Bank of America upped their price target on Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. UBS Group upgraded Expeditors International of Washington from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $95.00 to $137.00 in a research report on Thursday, August 1st. Barclays raised their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Benchmark restated a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.00.

About Expeditors International of Washington

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.