According to Zacks, “We are encouraged by Expeditors' efforts to reward shareholders through dividend payments and buybacks. The company hiked its dividend payout by 11.1% in May 2016. We are also encouraged by the the company's bottom-line outperformance in the second quarter, which marked an impressive rebound from the first quarter wherein the company’s earnings had missed the consensus mark and had also declined year over year. However, Expeditors continues to struggle with respect to the top line. Revenues not only fell short of the Zacks Consensus Estimate in the second quarter of 2016 but also declined 13% year over year, due to soft air freight and ocean freight revenues. We expect the cimpany's top line to remain under pressure in the third quarter as well. However, we are encouraged by Expeditors’ sound balance sheet. The company’s asset-light business model allows it to maintain a debt-free balance sheet.”
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus downgraded Expeditors International of Washington from a buy rating to a hold rating in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Wolfe Research downgraded Expeditors International of Washington from a peer perform rating to an underperform rating in a report on Wednesday, August 3rd. Finally, Credit Suisse Group AG reissued a sell rating and issued a $46.00 price objective on shares of Expeditors International of Washington in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $50.91.
Shares of Expeditors International of Washington (NASDAQ:EXPD) opened at 51.53 on Tuesday. Expeditors International of Washington has a one year low of $40.41 and a one year high of $52.58. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 21.54 and a beta of 0.78. The firm has a 50-day moving average of $51.09 and a 200 day moving average of $49.61.
Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Expeditors International of Washington had a return on equity of 25.10% and a net margin of 7.25%. The firm earned $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The business’s revenue was down 12.8% on a year-over-year basis. Equities research analysts anticipate that Expeditors International of Washington will post $2.43 EPS for the current year.
In other Expeditors International of Washington news, Director Michael J. Malone sold 26,646 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $51.00, for a total transaction of $1,358,946.00. Following the transaction, the director now owns 108,786 shares in the company, valued at approximately $5,548,086. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of EXPD. Paradigm Asset Management Co. LLC boosted its position in Expeditors International of Washington by 11.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,450 shares of the company’s stock valued at $120,000 after buying an additional 259 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in Expeditors International of Washington by 61.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,537 shares of the company’s stock valued at $124,000 after buying an additional 970 shares during the last quarter. Creative Planning boosted its position in Expeditors International of Washington by 10.2% in the second quarter. Creative Planning now owns 2,607 shares of the company’s stock valued at $128,000 after buying an additional 241 shares during the last quarter. Global X Management Co. LLC boosted its position in Expeditors International of Washington by 99.3% in the second quarter. Global X Management Co. LLC now owns 3,187 shares of the company’s stock valued at $156,000 after buying an additional 1,588 shares during the last quarter. Finally, Seven Eight Capital LLC purchased a new position in Expeditors International of Washington during the first quarter valued at $165,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.
Expeditors International of Washington Company Profile
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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