Expeditors International of Washington (NASDAQ:EXPD) Releases Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Expeditors International of Washington (NASDAQ:EXPD) released its earnings results on Tuesday. The transportation company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.34, Briefing.com reports. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same period in the previous year, the firm earned $1.34 EPS. Expeditors International of Washington’s quarterly revenue was up 32.1% compared to the same quarter last year.

Expeditors International of Washington Stock Down 2.1%

Expeditors International of Washington stock traded down $3.74 during mid-day trading on Thursday, hitting $177.67. The company’s stock had a trading volume of 400,178 shares, compared to its average volume of 1,365,733. The stock has a market capitalization of $23.24 billion, a P/E ratio of 31.06, a P/E/G ratio of 5.00 and a beta of 1.04. Expeditors International of Washington has a twelve month low of $112.94 and a twelve month high of $187.74. The stock’s fifty day moving average price is $167.71 and its two-hundred day moving average price is $156.78.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EXPD shares. Barclays lifted their price target on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the company an “underweight” rating in a report on Wednesday. Citizens Jmp began coverage on Expeditors International of Washington in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Truist Financial increased their price target on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. UBS Group boosted their price target on shares of Expeditors International of Washington from $191.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus raised their target price on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $168.78.

Hedge Funds Weigh In On Expeditors International of Washington

Hedge funds and other institutional investors have recently modified their holdings of the stock. Compound Planning Inc. boosted its holdings in shares of Expeditors International of Washington by 18.6% in the fourth quarter. Compound Planning Inc. now owns 2,331 shares of the transportation company’s stock worth $347,000 after buying an additional 366 shares during the period. Corient Private Wealth LLC grew its position in Expeditors International of Washington by 61.6% during the 4th quarter. Corient Private Wealth LLC now owns 53,385 shares of the transportation company’s stock worth $7,868,000 after purchasing an additional 20,343 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in Expeditors International of Washington during the 4th quarter valued at $5,074,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Expeditors International of Washington by 4.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,321 shares of the transportation company’s stock valued at $4,369,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Front Street Capital Management Inc. lifted its holdings in shares of Expeditors International of Washington by 4.3% in the fourth quarter. Front Street Capital Management Inc. now owns 10,943 shares of the transportation company’s stock valued at $1,631,000 after purchasing an additional 449 shares in the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

Key Expeditors International of Washington News

Here are the key news stories impacting Expeditors International of Washington this week:

• Positive Sentiment: Strong Q2 earnings beat expectations. Expeditors reported $2.03 in adjusted earnings per share, above the $1.69 consensus estimate, while revenue increased 32.1% year over year to approximately $3.5 billion. Earnings rose 51.5%, supported by stronger airfreight demand, greater customs complexity and productivity gains. EXPD Q2 Earnings Beat Estimates on Airfreight and Customs Strength
• Positive Sentiment: UBS raised its price target and maintained a bullish stance. UBS increased its target from $191 to $210 and assigned a “buy” rating, indicating meaningful potential upside based on the company’s earnings momentum. UBS price target update
• Positive Sentiment: JPMorgan upgraded the stock. JPMorgan moved EXPD from “underweight” to “neutral” and set a $200 price target, reflecting reduced downside concerns after the results. JPMorgan analyst update

About Expeditors International of Washington

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.