Expeditors International of Washington (EXPD) Lowered to Sell at Zacks Investment Research

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

According to Zacks, “Shares of Expeditors have underperformed its industry on a year-to-date basis. Adding to its woes, the company reported lower-than-expected earnings in first-quarter 2019. Results were hurt by the airfreight services division’s below-par performance. Airfreight tonnage volume contracted 4% in the first quarter. The company stated that its airfreight business was "challenged". In fact, segmental sales decreased due to low export volumes from North Asia. However, the bottom line improved on a year-over-year basis. This upside was owing to higher revenues and a lower effective tax rate. Effective tax rate declined to 28.3% in the first quarter from 31.1% a year ago. The company's decision to raise its semi-annual cash dividend by 11.1% to 50 cents per share is an added positive. Expeditors is also active on the share buyback front.”

A number of other research firms also recently weighed in on EXPD. BidaskClub raised shares of Expeditors International of Washington from a hold rating to a buy rating in a research report on Wednesday, April 3rd. ValuEngine downgraded shares of Expeditors International of Washington from a buy rating to a hold rating in a research report on Wednesday, May 1st. Stifel Nicolaus set a $77.00 target price on shares of Expeditors International of Washington and gave the company a hold rating in a research report on Friday, February 22nd. Cowen reissued a market perform rating and set a $76.00 target price (down previously from $78.00) on shares of Expeditors International of Washington in a research report on Wednesday, May 8th. Finally, Credit Suisse Group increased their target price on shares of Expeditors International of Washington from $64.00 to $69.00 and gave the company an underperform rating in a research report on Wednesday, February 20th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company currently has an average rating of Hold and a consensus target price of $74.29.

Shares of Expeditors International of Washington stock traded up $1.08 on Wednesday, hitting $74.41. The stock had a trading volume of 58,519 shares, compared to its average volume of 1,105,474. Expeditors International of Washington has a twelve month low of $62.90 and a twelve month high of $80.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market capitalization of $12.41 billion, a P/E ratio of 21.37 and a beta of 0.82.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.05). The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.99 billion. Expeditors International of Washington had a net margin of 7.49% and a return on equity of 31.25%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. Equities analysts anticipate that Expeditors International of Washington will post 3.53 EPS for the current year.

The firm also recently declared a semiannual dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.50 per share. This represents a dividend yield of 1.35%. This is a boost from Expeditors International of Washington’s previous semiannual dividend of $0.45. The ex-dividend date of this dividend is Friday, May 31st. Expeditors International of Washington’s dividend payout ratio is presently 25.86%.

In other Expeditors International of Washington news, insider Richard H. Rostan sold 4,596 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $75.37, for a total transaction of $346,400.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher J. Mcclincy sold 1,960 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $77.09, for a total value of $151,096.40. Following the transaction, the vice president now owns 12,848 shares in the company, valued at $990,452.32. The disclosure for this sale can be found here. Insiders have sold a total of 26,183 shares of company stock worth $1,972,217 over the last 90 days. Company insiders own 1.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc lifted its holdings in shares of Expeditors International of Washington by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 20,535,471 shares of the transportation company’s stock worth $1,509,974,000 after purchasing an additional 336,122 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Expeditors International of Washington by 0.7% in the 1st quarter. Loomis Sayles & Co. L P now owns 15,690,815 shares of the transportation company’s stock worth $1,190,933,000 after purchasing an additional 104,006 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Expeditors International of Washington by 1.2% in the 1st quarter. BlackRock Inc. now owns 14,817,933 shares of the transportation company’s stock worth $1,124,681,000 after purchasing an additional 169,828 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Expeditors International of Washington by 2.7% in the 4th quarter. Bank of America Corp DE now owns 4,465,382 shares of the transportation company’s stock worth $304,048,000 after purchasing an additional 118,184 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Expeditors International of Washington by 13.9% in the 4th quarter. Commonwealth Bank of Australia now owns 4,183,382 shares of the transportation company’s stock worth $284,830,000 after purchasing an additional 510,958 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

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, and other logistics solutions.

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