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

Expeditors International of Washington (NASDAQ:EXPD) released its earnings results on Tuesday. The transportation company reported $1.63 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the business earned $1.16 earnings per share. The business’s quarterly revenue was up 37.0% on a year-over-year basis.

Expeditors International of Washington Price Performance

EXPD stock traded up $0.53 during midday trading on Thursday, reaching $119.94. 1,384,728 shares of the company were exchanged, compared to its average volume of 1,222,084. The business has a 50-day moving average price of $122.50 and a two-hundred day moving average price of $121.28. Expeditors International of Washington has a one year low of $110.01 and a one year high of $131.59. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 5.08 and a beta of 0.98.

Expeditors International of Washington Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This represents a yield of 1.2%. Expeditors International of Washington’s dividend payout ratio (DPR) is 31.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EXPD. TD Cowen upped their price objective on shares of Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a research note on Wednesday. UBS Group upgraded shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and increased their price objective for the company from $95.00 to $137.00 in a research note on Thursday, August 1st. Benchmark restated a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Wolfe Research lowered shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $115.00.

Expeditors International of Washington Company Profile

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.