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

Key Points

• Expeditors beat quarterly earnings expectations: EPS came in at $2.03, $0.34 above consensus and up from $1.34 a year earlier. Revenue increased 32.1% year over year, while net margin was 7.64%.
• Shares were trading near their annual high: EXPD opened at $170.69, compared with a 52-week range of $112.94 to $183.52, and had a market capitalization of $22.32 billion.
• Analyst sentiment remained mixed: The stock carries a consensus “Hold” rating with an average price target of $153.78, while institutional investors and hedge funds own 94.02% of outstanding shares.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) issued its quarterly earnings data on Tuesday. The transportation company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.34, Briefing.com reports. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same period last year, the firm posted $1.34 earnings per share. Expeditors International of Washington's revenue was up 32.1% compared to the same quarter last year.

Expeditors International of Washington Price Performance

EXPD opened at $170.69 on Tuesday. The business has a fifty day simple moving average of $166.90 and a 200 day simple moving average of $156.51. The company has a market capitalization of $22.32 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. Expeditors International of Washington has a 1 year low of $112.94 and a 1 year high of $183.52.

Institutional Investors Weigh In On Expeditors International of Washington

A number of large investors have recently added to or reduced their stakes in the stock. Compound Planning Inc. increased its position 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 purchasing an additional 366 shares during the period. Corient Private Wealth LLC increased its stake in shares of Expeditors International of Washington by 61.6% in the 4th quarter. Corient Private Wealth LLC now owns 53,385 shares of the transportation company's stock valued at $7,868,000 after purchasing an additional 20,343 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of Expeditors International of Washington during the 4th quarter worth $5,074,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Expeditors International of Washington by 4.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 29,321 shares of the transportation company's stock worth $4,369,000 after buying an additional 1,260 shares during the last quarter. Finally, Front Street Capital Management Inc. boosted its stake in 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 buying an additional 449 shares in the last quarter. Institutional investors and hedge funds own 94.02% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays lifted their price target on shares of Expeditors International of Washington from $135.00 to $150.00 and gave the company an "underweight" rating in a research note on Thursday, June 25th. Susquehanna boosted their price objective on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Truist Financial upped their target price on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a research note on Wednesday, July 15th. Stifel Nicolaus boosted their price target on Expeditors International of Washington from $154.00 to $158.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. Finally, Stephens raised Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $153.78.

Expeditors International of Washington Company Profile

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.

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