Expeditors International of Washington (NASDAQ:EXPD) issued its earnings results on Tuesday. The transportation company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07, Briefing.com reports. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Expeditors International of Washington had a net margin of 6.50% and a return on equity of 22.32%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share.
Shares of Expeditors International of Washington (NASDAQ EXPD) traded down $0.07 on Tuesday, hitting $64.12. 2,954,200 shares of the company were exchanged, compared to its average volume of 1,151,517. Expeditors International of Washington has a 12-month low of $51.96 and a 12-month high of $67.54. The stock has a market capitalization of $11,394.30, a price-to-earnings ratio of 26.83, a P/E/G ratio of 2.92 and a beta of 0.64.
In related news, insider Eugene K. Alger sold 10,269 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $60.40, for a total value of $620,247.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.78% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EXPD. Old Mutual Global Investors UK Ltd. purchased a new position in Expeditors International of Washington during the fourth quarter worth about $103,000. Icon Wealth Partners LLC purchased a new position in Expeditors International of Washington during the fourth quarter worth about $106,000. Canada Pension Plan Investment Board boosted its stake in Expeditors International of Washington by 10,555.6% during the third quarter. Canada Pension Plan Investment Board now owns 1,918 shares of the transportation company’s stock worth $115,000 after buying an additional 1,900 shares during the period. Pinebridge Investments L.P. purchased a new position in Expeditors International of Washington during the fourth quarter worth about $137,000. Finally, DF Dent & Co. Inc. purchased a new position in Expeditors International of Washington during the fourth quarter worth about $203,000. 89.77% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Tuesday, February 13th. Stifel Nicolaus reissued a “hold” rating and issued a $68.00 price objective on shares of Expeditors International of Washington in a report on Thursday, January 18th. Credit Suisse Group upped their price objective on shares of Expeditors International of Washington from $56.00 to $63.00 and gave the company an “underperform” rating in a report on Tuesday, January 16th. Barclays reissued a “buy” rating and issued a $70.00 price objective on shares of Expeditors International of Washington in a report on Tuesday, January 9th. Finally, BidaskClub lowered shares of Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $63.38.
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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.
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