Q3 2023 EPS Estimates for Expeditors International of Washington, Inc. Lifted by Zacks Research (NASDAQ:EXPD)

Expeditors International of Washington, Inc. (NASDAQ:EXPDGet Rating) – Investment analysts at Zacks Research boosted their Q3 2023 earnings per share estimates for shares of Expeditors International of Washington in a research note issued on Tuesday, January 17th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings of $1.36 per share for the quarter, up from their previous forecast of $1.35. The consensus estimate for Expeditors International of Washington’s current full-year earnings is $8.69 per share. Zacks Research also issued estimates for Expeditors International of Washington’s Q1 2024 earnings at $1.44 EPS, Q2 2024 earnings at $1.26 EPS, Q3 2024 earnings at $1.42 EPS and Q4 2024 earnings at $0.74 EPS.

Other research analysts also recently issued reports about the company. Susquehanna cut their price objective on Expeditors International of Washington from $110.00 to $95.00 in a research note on Wednesday, November 9th. Morgan Stanley cut their price objective on Expeditors International of Washington from $94.00 to $86.00 and set an “underweight” rating on the stock in a research note on Monday, October 3rd. Cowen cut their price objective on Expeditors International of Washington to $122.00 in a research note on Tuesday, November 15th. BNP Paribas started coverage on Expeditors International of Washington in a research note on Thursday, December 1st. They issued a “neutral” rating and a $107.00 price objective on the stock. Finally, Cowen cut their price objective on Expeditors International of Washington from $122.00 to $108.00 in a research note on Friday, January 6th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, Expeditors International of Washington presently has a consensus rating of “Hold” and an average target price of $99.89.

Expeditors International of Washington Price Performance

Shares of Expeditors International of Washington stock opened at $106.73 on Friday. The stock has a 50-day simple moving average of $109.64 and a 200-day simple moving average of $102.35. Expeditors International of Washington has a 52-week low of $86.08 and a 52-week high of $119.26. The firm has a market cap of $16.98 billion, a price-to-earnings ratio of 11.21 and a beta of 0.98.

Expeditors International of Washington (NASDAQ:EXPDGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.62. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.21 billion. Expeditors International of Washington had a return on equity of 44.27% and a net margin of 8.36%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 EPS.

Expeditors International of Washington Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a dividend of $0.67 per share. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, November 30th. Expeditors International of Washington’s dividend payout ratio is presently 14.08%.

Insider Activity

In other news, CFO Bradley S. Powell sold 17,206 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $106.23, for a total transaction of $1,827,793.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Jeffrey F. Dickerman sold 986 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $106.59, for a total value of $105,097.74. Following the sale, the vice president now owns 1,770 shares of the company’s stock, valued at approximately $188,664.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Bradley S. Powell sold 17,206 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $106.23, for a total value of $1,827,793.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,692 shares of company stock worth $3,237,336. Company insiders own 0.55% of the company’s stock.

Institutional Trading of Expeditors International of Washington

Institutional investors have recently bought and sold shares of the stock. Valley National Advisers Inc. boosted its stake in Expeditors International of Washington by 605.6% in the 2nd quarter. Valley National Advisers Inc. now owns 254 shares of the transportation company’s stock valued at $25,000 after buying an additional 218 shares in the last quarter. Allworth Financial LP boosted its stake in Expeditors International of Washington by 2,866.7% in the 2nd quarter. Allworth Financial LP now owns 267 shares of the transportation company’s stock valued at $26,000 after buying an additional 258 shares in the last quarter. Accurate Wealth Management LLC acquired a new stake in Expeditors International of Washington in the 4th quarter valued at $26,000. Lindbrook Capital LLC boosted its stake in Expeditors International of Washington by 78.0% in the 2nd quarter. Lindbrook Capital LLC now owns 283 shares of the transportation company’s stock valued at $28,000 after buying an additional 124 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its stake in Expeditors International of Washington by 3,625.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 298 shares of the transportation company’s stock valued at $29,000 after buying an additional 290 shares in the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.

About Expeditors International of Washington

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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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