Expeditors International of Washington (EXPD) Expected to Announce Quarterly Sales of $1.70 Billion

Wall Street brokerages forecast that Expeditors International of Washington (NASDAQ:EXPD) will announce sales of $1.70 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Expeditors International of Washington’s earnings. The lowest sales estimate is $1.65 billion and the highest is $1.75 billion. Expeditors International of Washington reported sales of $1.55 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The company is scheduled to report its next quarterly earnings report on Tuesday, May 1st.

On average, analysts expect that Expeditors International of Washington will report full year sales of $1.70 billion for the current financial year, with estimates ranging from $7.24 billion to $7.46 billion. For the next fiscal year, analysts anticipate that the company will report sales of $7.78 billion per share, with estimates ranging from $7.59 billion to $8.06 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Expeditors International of Washington.

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Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, February 20th. The transportation company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. Expeditors International of Washington had a net margin of 7.07% and a return on equity of 22.79%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $0.61 EPS. Expeditors International of Washington’s quarterly revenue was up 15.8% on a year-over-year basis.

Several equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Morgan Stanley restated an “equal weight” rating and issued a $55.00 price objective (up previously from $51.00) on shares of Expeditors International of Washington in a research report on Monday, February 26th. Cowen restated a “market perform” rating and issued a $65.00 price objective (up previously from $58.00) on shares of Expeditors International of Washington in a research report on Wednesday, February 21st. UBS Group set a $60.00 price objective on Expeditors International of Washington and gave the stock a “sell” rating in a research report on Wednesday, February 21st. Finally, Credit Suisse Group restated an “underperform” rating and issued a $61.00 price objective (down previously from $63.00) on shares of Expeditors International of Washington in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Expeditors International of Washington currently has a consensus rating of “Hold” and a consensus price target of $63.11.

In other Expeditors International of Washington news, insider Philip M. Coughlin sold 12,103 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $65.01, for a total value of $786,816.03. Following the sale, the insider now owns 16,153 shares in the company, valued at approximately $1,050,106.53. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Richard H. Rostan sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $64.65, for a total value of $290,925.00. Following the completion of the sale, the insider now owns 56,290 shares in the company, valued at approximately $3,639,148.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,457 shares of company stock worth $1,784,235. Insiders own 0.78% of the company’s stock.

Several large investors have recently made changes to their positions in EXPD. Canada Pension Plan Investment Board lifted its position in shares of Expeditors International of Washington by 10,555.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,918 shares of the transportation company’s stock valued at $115,000 after buying an additional 1,900 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Expeditors International of Washington by 0.6% during the 3rd quarter. Prudential Financial Inc. now owns 263,278 shares of the transportation company’s stock valued at $15,759,000 after buying an additional 1,699 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Expeditors International of Washington by 96.2% during the 3rd quarter. Bessemer Group Inc. now owns 15,000 shares of the transportation company’s stock valued at $899,000 after buying an additional 7,353 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its position in shares of Expeditors International of Washington by 12.0% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 14,027 shares of the transportation company’s stock valued at $840,000 after buying an additional 1,499 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Expeditors International of Washington by 11.9% during the 3rd quarter. New York State Common Retirement Fund now owns 703,900 shares of the transportation company’s stock valued at $42,135,000 after buying an additional 75,100 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Expeditors International of Washington (NASDAQ:EXPD) opened at $63.70 on Friday. Expeditors International of Washington has a fifty-two week low of $51.96 and a fifty-two week high of $67.63. The firm has a market cap of $11,281.01, a P/E ratio of 23.59, a P/E/G ratio of 2.77 and a beta of 0.62.

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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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Earnings History and Estimates for Expeditors International of Washington (NASDAQ:EXPD)

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