Analysts’ Recent Ratings Changes for Expeditors International of Washington (EXPD)

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Several analysts have recently updated their ratings and price targets for Expeditors International of Washington (NASDAQ: EXPD):

  • 5/15/2019 – Expeditors International of Washington was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Expeditors have underperformed its industry on a year-to-date basis. Adding to its woes, the company reported lower-than-expected earnings in first-quarter 2019. Results were hurt by the airfreight services division’s below-par performance. Airfreight tonnage volume contracted 4% in the first quarter. The company stated that its airfreight business was "challenged". In fact, segmental sales decreased due to low export volumes from North Asia. However, the bottom line improved on a year-over-year basis. This upside was owing to higher revenues and a lower effective tax rate. Effective tax rate declined to 28.3% in the first quarter from 31.1% a year ago. The company's decision to raise its semi-annual cash dividend by 11.1% to 50 cents per share is an added positive. Expeditors is also active on the share buyback front.”
  • 5/9/2019 – Expeditors International of Washington was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 5/8/2019 – Expeditors International of Washington had its “market perform” rating reaffirmed by analysts at Cowen Inc. They now have a $76.00 price target on the stock, down previously from $78.00.
  • 5/1/2019 – Expeditors International of Washington was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/3/2019 – Expeditors International of Washington was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 3/27/2019 – Expeditors International of Washington was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

EXPD stock traded up $0.18 during midday trading on Friday, reaching $74.55. 165,672 shares of the company’s stock traded hands, compared to its average volume of 1,108,813. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 21.42 and a beta of 0.82. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.14. Expeditors International of Washington has a fifty-two week low of $62.90 and a fifty-two week high of $80.69.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.99 billion. Expeditors International of Washington had a net margin of 7.49% and a return on equity of 31.25%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. On average, equities analysts forecast that Expeditors International of Washington will post 3.52 EPS for the current fiscal year.

The company also recently announced a semiannual dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.50 per share. This is a boost from Expeditors International of Washington’s previous semiannual dividend of $0.45. This represents a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, May 31st. Expeditors International of Washington’s payout ratio is presently 25.86%.

In related news, insider Daniel R. Wall sold 9,109 shares of Expeditors International of Washington stock in a transaction on Monday, March 11th. The shares were sold at an average price of $75.25, for a total value of $685,452.25. Following the completion of the sale, the insider now owns 40,079 shares in the company, valued at $3,015,944.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher J. Mcclincy sold 1,960 shares of Expeditors International of Washington stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $77.09, for a total transaction of $151,096.40. Following the completion of the sale, the vice president now owns 12,848 shares of the company’s stock, valued at approximately $990,452.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,183 shares of company stock worth $1,972,217. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. BlueMountain Capital Management LLC increased its stake in Expeditors International of Washington by 224.7% during the first quarter. BlueMountain Capital Management LLC now owns 34,378 shares of the transportation company’s stock valued at $2,609,000 after purchasing an additional 23,791 shares during the last quarter. CWM Advisors LLC increased its stake in Expeditors International of Washington by 50.5% during the first quarter. CWM Advisors LLC now owns 5,890 shares of the transportation company’s stock valued at $447,000 after purchasing an additional 1,976 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in Expeditors International of Washington during the first quarter valued at $307,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Expeditors International of Washington by 131.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,311 shares of the transportation company’s stock worth $3,136,000 after acquiring an additional 23,465 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Expeditors International of Washington by 14.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 4,077 shares of the transportation company’s stock worth $309,000 after acquiring an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. 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, 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, and other logistics solutions.

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