Expeditors International of Washington (NASDAQ:EXPD) Shares Gap Up Following Earnings Beat

Key Points

• Expeditors beat expectations with Q EPS $1.71 vs. $1.33 est. and revenue up 4.4% year‑over‑year, prompting shares to gap up about 6.8% (opened $148.90 vs prior close $139.71) on the news.
• Wall Street sentiment is mixed-to-negative: the consensus rating on the stock is "Reduce" with a consensus price target of $134.30 after multiple firms trimmed targets and issued hold/neutral or sell views.
• Institutional ownership is very high at 94.02%; the company has a market cap of about $19.84 billion, a P/E of 26.06 and a return on equity of 36.16%.

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Get Free Report) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $139.71, but opened at $148.90. Expeditors International of Washington shares last traded at $147.9390, with a volume of 217,074 shares trading hands.

The transportation company reported $1.71 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same quarter last year, the firm earned $1.47 EPS. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EXPD shares. Susquehanna cut their target price on shares of Expeditors International of Washington from $160.00 to $142.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Truist Financial cut their target price on shares of Expeditors International of Washington from $160.00 to $140.00 and set a "hold" rating for the company in a research note on Wednesday, February 25th. Bank of America raised shares of Expeditors International of Washington from a "neutral" rating to a "buy" rating in a research note on Friday, January 9th. JPMorgan Chase & Co. cut their target price on shares of Expeditors International of Washington from $134.00 to $132.00 and set an "underweight" rating for the company in a research note on Monday, January 12th. Finally, Zacks Research lowered shares of Expeditors International of Washington from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $134.30.

Institutional Investors Weigh In On Expeditors International of Washington

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Expeditors International of Washington by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,168 shares of the transportation company's stock worth $1,944,000 after purchasing an additional 623 shares in the last quarter. Jones Financial Companies Lllp grew its position in Expeditors International of Washington by 75.4% during the 1st quarter. Jones Financial Companies Lllp now owns 2,324 shares of the transportation company's stock worth $279,000 after purchasing an additional 999 shares in the last quarter. Woodline Partners LP grew its position in Expeditors International of Washington by 40.7% during the 1st quarter. Woodline Partners LP now owns 11,826 shares of the transportation company's stock worth $1,422,000 after purchasing an additional 3,420 shares in the last quarter. Focus Partners Wealth grew its position in Expeditors International of Washington by 33.9% during the 1st quarter. Focus Partners Wealth now owns 5,227 shares of the transportation company's stock worth $628,000 after purchasing an additional 1,324 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Expeditors International of Washington by 29.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,113 shares of the transportation company's stock worth $127,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 94.02% of the company's stock.

Expeditors International of Washington Stock Up 6.8%

The firm has a market cap of $19.84 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 5.00 and a beta of 1.04. The company has a 50-day moving average price of $145.31 and a 200 day moving average price of $146.24.

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.

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