$1.79 Billion in Sales Expected for Expeditors International of Washington (EXPD) This Quarter

Brokerages forecast that Expeditors International of Washington (NASDAQ:EXPD) will report $1.79 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Expeditors International of Washington’s earnings, with the highest sales estimate coming in at $1.83 billion and the lowest estimate coming in at $1.72 billion. Expeditors International of Washington reported sales of $1.64 billion in the same quarter last year, which would suggest a positive year over year growth rate of 9.1%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, February 20th.

According to Zacks, analysts expect that Expeditors International of Washington will report full-year sales of $1.79 billion for the current year, with estimates ranging from $6.74 billion to $6.85 billion. For the next financial year, analysts anticipate that the firm will post sales of $7.23 billion per share, with estimates ranging from $7.03 billion to $7.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Expeditors International of Washington.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, November 7th. The transportation company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.06. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.72 billion. Expeditors International of Washington had a return on equity of 22.32% and a net margin of 6.50%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS.

Several brokerages have recently commented on EXPD. Zacks Investment Research upgraded Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Friday, January 19th. Stifel Nicolaus restated a “hold” rating and issued a $68.00 target price on shares of Expeditors International of Washington in a research note on Thursday, January 18th. Credit Suisse Group raised their price target on shares of Expeditors International of Washington from $56.00 to $63.00 and gave the company an “underperform” rating in a research report on Tuesday, January 16th. Barclays reaffirmed a “buy” rating and issued a $70.00 price target on shares of Expeditors International of Washington in a research report on Tuesday, January 9th. Finally, BidaskClub cut shares of Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Expeditors International of Washington presently has a consensus rating of “Hold” and an average price target of $63.88.

In related news, insider Eugene K. Alger sold 10,269 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $60.40, for a total value of $620,247.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in shares of Expeditors International of Washington by 24,524.1% during the 2nd quarter. Janus Henderson Group PLC now owns 4,786,930 shares of the transportation company’s stock worth $270,366,000 after buying an additional 4,767,490 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of Expeditors International of Washington by 115.2% during the 3rd quarter. APG Asset Management N.V. now owns 1,432,508 shares of the transportation company’s stock worth $85,750,000 after buying an additional 766,900 shares in the last quarter. Commonwealth Bank of Australia lifted its position in shares of Expeditors International of Washington by 21.8% during the 3rd quarter. Commonwealth Bank of Australia now owns 3,489,743 shares of the transportation company’s stock worth $208,580,000 after buying an additional 624,542 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Expeditors International of Washington by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 19,704,393 shares of the transportation company’s stock worth $1,112,904,000 after buying an additional 532,318 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Expeditors International of Washington by 1,326.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 334,400 shares of the transportation company’s stock worth $20,017,000 after buying an additional 310,958 shares in the last quarter. 93.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of Expeditors International of Washington (NASDAQ EXPD) opened at $66.89 on Wednesday. The company has a market capitalization of $11,806.58, a PE ratio of 27.99, a PEG ratio of 3.06 and a beta of 0.72. Expeditors International of Washington has a 12 month low of $51.57 and a 12 month high of $67.19.

COPYRIGHT VIOLATION WARNING: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright law. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/01/24/1-79-billion-in-sales-expected-for-expeditors-international-of-washington-expd-this-quarter.html.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a logistics company. The Company is a third-party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

Get a free copy of the Zacks research report on Expeditors International of Washington (EXPD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Expeditors International of Washington Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expeditors International of Washington and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply