Expeditors International of Washington (NASDAQ:EXPD) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS
Posted by MarketBeat News on Nov 8th, 2023
Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) issued its quarterly earnings data on Tuesday. The transportation company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.09), Briefing.com reports. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.29 billion. Expeditors International of Washington had a return on equity of 34.31% and a net margin of 8.36%. The company’s revenue was down 49.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.54 earnings per share.
Expeditors International of Washington Trading Up 2.5 %
EXPD stock traded up $2.76 during midday trading on Wednesday, hitting $113.16. 123,105 shares of the company’s stock were exchanged, compared to its average volume of 1,213,893. Expeditors International of Washington has a 1-year low of $102.75 and a 1-year high of $128.04. The business has a 50-day simple moving average of $114.73 and a two-hundred day simple moving average of $116.56. The stock has a market capitalization of $16.74 billion, a PE ratio of 16.55 and a beta of 1.01.
Analyst Ratings Changes
EXPD has been the subject of several recent analyst reports. JPMorgan Chase & Co. began coverage on shares of Expeditors International of Washington in a research note on Friday, August 11th. They set an “underweight” rating and a $110.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Expeditors International of Washington from $99.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Stephens lifted their target price on Expeditors International of Washington from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 9th. Susquehanna boosted their price target on Expeditors International of Washington from $104.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Finally, StockNews.com assumed coverage on Expeditors International of Washington in a report on Thursday, October 5th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.09.
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Get Our Latest Stock Analysis on Expeditors International of Washington
Hedge Funds Weigh In On Expeditors International of Washington
Several large investors have recently made changes to their positions in EXPD. First Horizon Advisors Inc. grew its stake in shares of Expeditors International of Washington by 53.8% in the first quarter. First Horizon Advisors Inc. now owns 263 shares of the transportation company’s stock valued at $29,000 after buying an additional 92 shares in the last quarter. Covestor Ltd raised its position in Expeditors International of Washington by 103.6% in the 1st quarter. Covestor Ltd now owns 342 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 174 shares in the last quarter. Clear Street Markets LLC grew its position in shares of Expeditors International of Washington by 95.0% during the first quarter. Clear Street Markets LLC now owns 314 shares of the transportation company’s stock worth $35,000 after buying an additional 153 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Expeditors International of Washington by 46.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 521 shares of the transportation company’s stock worth $57,000 after buying an additional 165 shares during the period. Finally, Zions Bancorporation N.A. raised its holdings in Expeditors International of Washington by 234.3% in the first quarter. Zions Bancorporation N.A. now owns 575 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 403 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.
About Expeditors International of Washington
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.
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