Expeditors International of Washington (NASDAQ:EXPD) Sets New 1-Year Low – Here’s What Happened

Expeditors International of Washington, Inc. (NASDAQ:EXPD)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $111.05 and last traded at $111.48, with a volume of 2354287 shares trading hands. The stock had previously closed at $112.74.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wolfe Research lowered shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 9th. TD Cowen increased their price target on Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Finally, Barclays boosted their price target on Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $118.44.

Expeditors International of Washington Price Performance

The stock’s fifty day moving average is $119.98 and its 200-day moving average is $121.99. The stock has a market capitalization of $15.60 billion, a PE ratio of 21.73, a P/E/G ratio of 3.42 and a beta of 0.97.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.30. Expeditors International of Washington had a return on equity of 32.12% and a net margin of 7.39%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business earned $1.16 EPS. Expeditors International of Washington’s revenue for the quarter was up 37.0% compared to the same quarter last year. On average, analysts forecast that Expeditors International of Washington, Inc. will post 5.43 EPS for the current year.

Expeditors International of Washington Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.73 dividend. This represents a yield of 1.2%. The ex-dividend date was Monday, December 2nd. Expeditors International of Washington’s payout ratio is presently 28.46%.

Insider Activity

In related news, Director Robert Paul Carlile sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $121.11, for a total transaction of $363,330.00. Following the completion of the sale, the director now directly owns 9,662 shares in the company, valued at approximately $1,170,164.82. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Expeditors International of Washington

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in Expeditors International of Washington by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,161,027 shares of the transportation company’s stock worth $152,559,000 after acquiring an additional 4,044 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Expeditors International of Washington in the third quarter valued at approximately $2,182,000. American Trust purchased a new position in Expeditors International of Washington during the third quarter worth approximately $203,000. Franklin Resources Inc. grew its holdings in Expeditors International of Washington by 18.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,486 shares of the transportation company’s stock valued at $23,623,000 after buying an additional 30,785 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Expeditors International of Washington by 98.2% in the 3rd quarter. Synovus Financial Corp now owns 6,975 shares of the transportation company’s stock worth $917,000 after acquiring an additional 3,456 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. 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, import, 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.