Todays Report: Today, Expeditors International of Washington Inc. (EXPD) Raised to Hold at The Zacks Investment Research

Today, Expeditors International of Washington Inc. (EXPD) Raised to Hold at The Zacks Investment Research

Zacks Investment Research upgraded shares of Expeditors International of Washington Inc. (NASDAQ:EXPD) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “Expeditors performed disappointingly in the third quarter of 2016 reporting lower-than-expected earnings and revenues. Moreover, both metrics declined on a year-over-year basis. Soft air freight and ocean freight revenues hurt results in the quarter.  Gross profit also declined in the quarter due to lower revenues. The lackluster earnings report naturally displeased investors and resulted in the stock declining following the release. We are however encouraged by Expeditors' efforts to reward shareholders through dividend payments and buybacks. The company hiked its dividend payout by 11.1% in May 2016. During the third quarter, the company repurchased 2 million shares at an average price of $51.16 per share.”

Other analysts have also recently issued reports about the stock. Barclays PLC restated a buy rating on shares of Expeditors International of Washington in a research note on Wednesday, November 9th. Stifel Nicolaus raised shares of Expeditors International of Washington from a hold rating to a buy rating and set a $56.00 target price on the stock in a research report on Thursday, August 25th. Credit Suisse Group AG reaffirmed a sell rating and set a $46.00 target price on shares of Expeditors International of Washington in a research report on Wednesday, August 3rd. Finally, Wolfe Research lowered shares of Expeditors International of Washington from a peer perform rating to an underperform rating in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $50.80.

Shares of Expeditors International of Washington (NASDAQ:EXPD) opened at 52.81 on Wednesday. The company has a 50-day moving average of $51.08 and a 200 day moving average of $50.26. Expeditors International of Washington has a 12 month low of $40.41 and a 12 month high of $53.11. The company has a market capitalization of $9.53 billion, a P/E ratio of 22.37 and a beta of 0.69.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.06. Expeditors International of Washington had a return on equity of 24.45% and a net margin of 7.18%. The firm earned $1.56 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Expeditors International of Washington’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts forecast that Expeditors International of Washington will post $2.35 EPS for the current year.

The company also recently announced a dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. Expeditors International of Washington’s dividend payout ratio is presently 33.90%.

In other news, Director Michael J. Malone sold 32,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $51.13, for a total value of $1,636,160.00. Following the sale, the director now owns 86,771 shares in the company, valued at approximately $4,436,601.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Malone sold 51,559 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $51.63, for a total transaction of $2,661,991.17. Following the completion of the sale, the director now owns 133,074 shares in the company, valued at approximately $6,870,610.62. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of EXPD. Virtus Investment Advisers Inc. purchased a new stake in shares of Expeditors International of Washington during the third quarter valued at approximately $100,000. Mosaic Family Wealth LLC increased its stake in shares of Expeditors International of Washington by 3.8% in the third quarter. Mosaic Family Wealth LLC now owns 2,394 shares of the company’s stock valued at $123,000 after buying an additional 87 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Expeditors International of Washington by 11.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,450 shares of the company’s stock valued at $120,000 after buying an additional 259 shares in the last quarter. TLP Group LLC purchased a new stake in shares of Expeditors International of Washington during the third quarter valued at approximately $126,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in shares of Expeditors International of Washington by 61.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,537 shares of the company’s stock valued at $124,000 after buying an additional 970 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

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.

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