Brokerages Anticipate Expeditors International of Washington (EXPD) Will Announce Quarterly Sales of $2.03 Billion

Wall Street brokerages forecast that Expeditors International of Washington (NASDAQ:EXPD) will announce $2.03 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Expeditors International of Washington’s earnings, with the lowest sales estimate coming in at $1.91 billion and the highest estimate coming in at $2.07 billion. Expeditors International of Washington posted sales of $1.80 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 12.8%. The business is scheduled to announce its next earnings report before the market opens on Tuesday, November 6th.

According to Zacks, analysts expect that Expeditors International of Washington will report full year sales of $7.95 billion for the current fiscal year, with estimates ranging from $7.68 billion to $8.03 billion. For the next financial year, analysts anticipate that the company will post sales of $8.39 billion, with estimates ranging from $7.91 billion to $8.55 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Expeditors International of Washington.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, August 7th. The transportation company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Expeditors International of Washington had a return on equity of 26.73% and a net margin of 7.50%.

A number of research firms have issued reports on EXPD. Stifel Nicolaus set a $73.00 price target on Expeditors International of Washington and gave the company a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research downgraded Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Credit Suisse Group cut their price target on Expeditors International of Washington from $67.00 to $65.00 and set an “underperform” rating for the company in a research note on Wednesday, August 8th. BidaskClub upgraded Expeditors International of Washington from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Cowen reaffirmed a “market perform” rating and set a $73.00 price objective (up from $70.00) on shares of Expeditors International of Washington in a research report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Expeditors International of Washington currently has a consensus rating of “Hold” and an average target price of $67.50.

Hedge funds have recently bought and sold shares of the company. Qube Research & Technologies Ltd purchased a new position in Expeditors International of Washington in the 2nd quarter worth approximately $113,000. Meeder Asset Management Inc. purchased a new position in Expeditors International of Washington in the 2nd quarter worth approximately $116,000. Fort L.P. purchased a new position in Expeditors International of Washington in the 2nd quarter worth approximately $118,000. Parallel Advisors LLC lifted its holdings in Expeditors International of Washington by 70.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,332 shares of the transportation company’s stock worth $170,000 after purchasing an additional 966 shares in the last quarter. Finally, Merriman Wealth Management LLC purchased a new position in Expeditors International of Washington in the 2nd quarter worth approximately $205,000. 92.79% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington stock opened at $72.69 on Monday. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 2.92 and a beta of 0.66. Expeditors International of Washington has a 52-week low of $56.44 and a 52-week high of $78.16.

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, such as 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, cargo insurance, cargo monitoring and tracking, and other logistics solutions.

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

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