Q2 2023 Earnings Estimate for Expeditors International of Washington, Inc. (NASDAQ:EXPD) Issued By Zacks Research

Posted by Defense World Staff on Jul 7th, 2023

Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) – Analysts at Zacks Research raised their Q2 2023 earnings estimates for Expeditors International of Washington in a note issued to investors on Monday, July 3rd. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $1.35 per share for the quarter, up from their prior forecast of $1.33. The consensus estimate for Expeditors International of Washington’s current full-year earnings is $5.42 per share. Zacks Research also issued estimates for Expeditors International of Washington’s FY2023 earnings at $5.51 EPS, Q1 2024 earnings at $1.18 EPS, Q2 2024 earnings at $1.29 EPS, Q4 2024 earnings at $1.26 EPS, FY2024 earnings at $5.08 EPS and Q2 2025 earnings at $0.41 EPS.

Other analysts have also issued reports about the stock. StockNews.com started coverage on shares of Expeditors International of Washington in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley decreased their price target on shares of Expeditors International of Washington from $85.00 to $84.00 in a research report on Thursday. Finally, Barclays increased their price target on shares of Expeditors International of Washington from $90.00 to $95.00 in a research report on Wednesday, May 3rd. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $100.75.

Expeditors International of Washington Price Performance

NASDAQ:EXPD opened at $117.55 on Thursday. Expeditors International of Washington has a 1-year low of $86.08 and a 1-year high of $122.06. The company has a 50-day moving average of $115.89 and a 200 day moving average of $111.06. The firm has a market cap of $17.96 billion, a PE ratio of 15.39 and a beta of 1.00.

Expeditors International of Washington (NASDAQ:EXPD – Free Report) last released its quarterly earnings data on Tuesday, May 2nd. The transportation company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.12. Expeditors International of Washington had a net margin of 8.25% and a return on equity of 37.24%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was down 44.4% compared to the same quarter last year.

Expeditors International of Washington Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a dividend yield of 1.1%. This is a positive change from Expeditors International of Washington’s previous Semi-Annual dividend of $0.67. Expeditors International of Washington’s dividend payout ratio is currently 18.06%.

Insider Activity

In related news, CEO Jeffrey S. Musser sold 30,041 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $111.30, for a total transaction of $3,343,563.30. Following the sale, the chief executive officer now directly owns 116,587 shares in the company, valued at $12,976,133.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jeffrey S. Musser sold 30,041 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $111.30, for a total value of $3,343,563.30. Following the completion of the sale, the chief executive officer now directly owns 116,587 shares of the company’s stock, valued at $12,976,133.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Benjamin G. Clark sold 1,290 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $117.85, for a total value of $152,026.50. Following the completion of the sale, the senior vice president now directly owns 16,351 shares of the company’s stock, valued at $1,926,965.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,077 shares of company stock worth $5,117,562. 0.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Expeditors International of Washington

A number of hedge funds and other institutional investors have recently bought and sold shares of EXPD. Accurate Wealth Management LLC acquired a new stake in Expeditors International of Washington in the fourth quarter valued at $26,000. Raleigh Capital Management Inc. grew its holdings in Expeditors International of Washington by 200.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 252 shares of the transportation company’s stock valued at $26,000 after buying an additional 168 shares during the period. New Hampshire Trust purchased a new stake in Expeditors International of Washington in the 4th quarter valued at about $26,000. First Horizon Advisors Inc. lifted its stake in shares of Expeditors International of Washington by 53.8% in the 1st quarter. First Horizon Advisors Inc. now owns 263 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of Expeditors International of Washington in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 97.65% of the company’s stock.

Expeditors International of Washington Company Profile

(Free Report)

Expeditors International of Washington, Inc, together with its subsidiaries, 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.

Receive News & Ratings for Expeditors International of Washington Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expeditors International of Washington and related companies with MarketBeat.com's FREE daily email newsletter.