Expeditors International of Washington Stock Price Up 5.4% Following Strong Earnings (EXPD)
Expeditors International of Washington (NASDAQ:EXPD) shares rose 5.4% during mid-day trading on Thursday following a stronger than expected earnings report, AnalystRatings.Net reports. The stock traded as high as $44.43 and last traded at $43.78, with a volume of 2,266,333 shares changing hands. The stock had previously closed at $41.54.
The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.01. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $0.39 earnings per share. Expeditors International of Washington’s revenue was up 5.6% compared to the same quarter last year.
A number of research firms have recently commented on EXPD. Analysts at Zacks reiterated a “neutral” rating on shares of Expeditors International of Washington in a research note on Tuesday, April 29th. They now have a $43.00 price target on the stock. Separately, analysts at FBR Capital Markets downgraded shares of Expeditors International of Washington from an “outperform” rating to a “market perform” rating in a research note on Monday, March 10th. They now have a $45.00 price target on the stock, down previously from $48.00. Finally, analysts at Avondale Partners downgraded shares of Expeditors International of Washington from a “market outperform” rating to a “market perform” rating in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.80.
The stock has a 50-day moving average of $39.87 and a 200-day moving average of $41.85. The company has a market cap of $8.752 billion and a P/E ratio of 24.73.
Expeditors International of Washington, Inc is engaged in the business of providing global logistics services.
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