Today: The Expeditors International of Washington Inc. (EXPD) Downgraded by Zacks Investment Research to Hold

The Expeditors International of Washington Inc. (EXPD) Downgraded by Zacks Investment Research to Hold

Expeditors International of Washington Inc. (NASDAQ:EXPD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “We are encouraged by Expeditors' efforts to reward shareholders through dividend payments and buybacks. The company hiked its dividend payout by 11.1% in May 2016. We are also encouraged by the the company's bottom-line outperformance  in the second quarter, which marked an impressive rebound from the first quarter wherein the company’s earnings had missed the consensus mark and had also declined year over year. However, Expeditors continues to struggle with respect to the top line. Revenues not only fell short of the Zacks Consensus Estimate in the second quarter of 2016 but also declined 13% year over year, due to soft air freight and ocean freight revenues. We expect the cimpany's top line to remain under pressure in the third quarter as well. However, we are encouraged by Expeditors’ sound balance sheet. The company’s asset-light business model allows it to maintain a debt-free balance sheet.”

EXPD has been the subject of several other reports. Stifel Nicolaus raised shares of Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Thursday, August 25th. Credit Suisse Group AG reissued a “sell” rating and set a $46.00 price target on shares of Expeditors International of Washington in a report on Wednesday, August 3rd. Finally, Wolfe Research downgraded shares of Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.91.

10/09/expeditors-international-of-washington-inc-expd-downgraded-by-zacks-investment-research-to-hold-2.html

Shares of Expeditors International of Washington (NASDAQ:EXPD) opened at 51.53 on Tuesday. The company’s 50-day moving average is $51.09 and its 200-day moving average is $49.61. Expeditors International of Washington has a one year low of $40.41 and a one year high of $52.58. The company has a market capitalization of $9.33 billion, a PE ratio of 21.54 and a beta of 0.78.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Expeditors International of Washington had a net margin of 7.25% and a return on equity of 25.10%. The firm earned $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm posted $0.61 EPS. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. Equities analysts predict that Expeditors International of Washington will post $2.43 earnings per share for the current year.

In other news, Director Michael J. Malone sold 26,646 shares of Expeditors International of Washington stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $51.00, for a total transaction of $1,358,946.00. Following the completion of the sale, the director now owns 108,786 shares in the company, valued at approximately $5,548,086. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

Several large investors have recently modified their holdings of EXPD. Armstrong Henry H Associates Inc. boosted its position in shares of Expeditors International of Washington by 0.3% in the second quarter. Armstrong Henry H Associates Inc. now owns 8,525 shares of the company’s stock worth $418,000 after buying an additional 25 shares in the last quarter. Ironwood Investment Counsel LLC boosted its position in shares of Expeditors International of Washington by 0.9% in the first quarter. Ironwood Investment Counsel LLC now owns 7,815 shares of the company’s stock worth $381,000 after buying an additional 70 shares in the last quarter. Benedict Financial Advisors Inc. boosted its position in shares of Expeditors International of Washington by 0.5% in the second quarter. Benedict Financial Advisors Inc. now owns 20,433 shares of the company’s stock worth $1,015,000 after buying an additional 107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Expeditors International of Washington by 0.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,578 shares of the company’s stock worth $2,726,000 after buying an additional 176 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Expeditors International of Washington by 0.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,233 shares of the company’s stock worth $1,336,000 after buying an additional 181 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

About Expeditors International of Washington

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.

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