Expeditors International of Washington Shares Down 5.3% on Disappointing Earnings (EXPD)
Expeditors International of Washington (NASDAQ:EXPD)’s share price traded down 5.3% on Tuesday following a weaker than expected earnings announcement, American Banking and Market News reports. The stock traded as low as $41.19 and last traded at $41.50, with a volume of 2,083,709 shares changing hands. The stock had previously closed at $43.82.
The company reported $0.46 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.47 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis.
A number of analysts have recently weighed in on EXPD shares. Analysts at Robert W. Baird cut their price target on shares of Expeditors International of Washington from $49.00 to $44.00 in a research note on Tuesday, July 8th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Expeditors International of Washington in a research note on Tuesday, June 24th. They now have a $47.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Expeditors International of Washington has an average rating of “Hold” and a consensus price target of $46.22.
The stock has a 50-day moving average of $44.46 and a 200-day moving average of $42.35. The company has a market cap of $8.171 billion and a P/E ratio of 25.63.
Expeditors International of Washington, Inc is engaged in the business of providing global logistics services.
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