Zacks: Analysts Expect Expeditors International of Washington, Inc. (NASDAQ:EXPD) Will Post Quarterly Sales of $2.52 Billion

Brokerages forecast that Expeditors International of Washington, Inc. (NASDAQ:EXPD) will post sales of $2.52 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Expeditors International of Washington’s earnings, with the highest sales estimate coming in at $2.53 billion and the lowest estimate coming in at $2.52 billion. Expeditors International of Washington reported sales of $2.58 billion in the same quarter last year, which indicates a negative year over year growth rate of 2.3%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 3rd.

On average, analysts expect that Expeditors International of Washington will report full year sales of $10.53 billion for the current year, with estimates ranging from $9.95 billion to $11.26 billion. For the next financial year, analysts expect that the company will post sales of $10.07 billion, with estimates ranging from $9.80 billion to $10.53 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Expeditors International of Washington.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, May 4th. The transportation company reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.63. Expeditors International of Washington had a net margin of 7.44% and a return on equity of 33.74%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The business’s revenue was up 76.5% on a year-over-year basis.

A number of equities research analysts have recently issued reports on EXPD shares. Susquehanna upped their price objective on Expeditors International of Washington from $87.00 to $116.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 11th. Cowen lifted their price objective on shares of Expeditors International of Washington from $97.00 to $109.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 17th. Wells Fargo & Company raised their target price on shares of Expeditors International of Washington from $112.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 5th. Morgan Stanley upped their price target on shares of Expeditors International of Washington from $88.00 to $91.00 and gave the company an “equal weight” rating in a research note on Monday, May 10th. Finally, Susquehanna Bancshares raised their price objective on shares of Expeditors International of Washington from $87.00 to $116.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $106.00.

In other Expeditors International of Washington news, insider Richard H. Rostan sold 65,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $113.42, for a total value of $7,372,300.00. Following the sale, the insider now owns 66,505 shares in the company, valued at $7,542,997.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher J. Mcclincy sold 4,038 shares of the company’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $120.43, for a total transaction of $486,296.34. Following the transaction, the vice president now owns 17,569 shares of the company’s stock, valued at $2,115,834.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,488 shares of company stock worth $14,848,263. Corporate insiders own 0.69% of the company’s stock.

Several large investors have recently bought and sold shares of EXPD. BlackRock Inc. raised its stake in Expeditors International of Washington by 14.8% during the fourth quarter. BlackRock Inc. now owns 17,220,162 shares of the transportation company’s stock worth $1,637,809,000 after buying an additional 2,217,314 shares during the last quarter. Norges Bank bought a new stake in shares of Expeditors International of Washington during the 4th quarter valued at about $161,351,000. Cedar Rock Capital Ltd. acquired a new stake in Expeditors International of Washington during the fourth quarter worth approximately $153,114,000. Principal Financial Group Inc. increased its holdings in Expeditors International of Washington by 92.1% in the first quarter. Principal Financial Group Inc. now owns 1,961,248 shares of the transportation company’s stock worth $211,208,000 after purchasing an additional 940,412 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in Expeditors International of Washington by 59.8% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,047,154 shares of the transportation company’s stock worth $194,655,000 after purchasing an additional 765,908 shares during the period. 92.74% of the stock is currently owned by institutional investors.

NASDAQ EXPD traded down $0.05 on Tuesday, reaching $125.39. The company had a trading volume of 23,521 shares, compared to its average volume of 1,171,406. The stock’s fifty day moving average price is $116.34. Expeditors International of Washington has a 1-year low of $71.94 and a 1-year high of $126.57. The firm has a market cap of $21.18 billion, a price-to-earnings ratio of 24.89 and a beta of 0.80.

The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, May 28th. This is a boost from Expeditors International of Washington’s previous Semi-Annual dividend of $0.52. This represents a yield of 0.9%. Expeditors International of Washington’s dividend payout ratio is presently 28.50%.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.

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