Credit Suisse Downgrades Expeditors International of Washington to Neutral (EXPD)
Expeditors International of Washington (NASDAQ:EXPD) was downgraded by equities research analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.38.
Shares of Expeditors International of Washington (NASDAQ:EXPD) opened at 41.40 on Wednesday. Expeditors International of Washington has a 52 week low of $38.42 and a 52 week high of $46.90. The stock’s 50-day moving average is $44.37 and its 200-day moving average is $42.33. The company has a market cap of $8.171 billion and a price-to-earnings ratio of 25.63.
Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, August 5th. 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. Analysts expect that Expeditors International of Washington will post $1.88 EPS for the current fiscal year.
Expeditors International of Washington, Inc is engaged in the business of providing global logistics services.
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