Zacks Investment Research lowered shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Shares of Expeditors have outperformed its industry on a year-to-date basis. The company reported better-than-expected earnings and revenues in the third quarter. Growth was witnessed across all major divisions of the company. Moreover, volumes improved across all its primary divisions. The company's efforts to reward shareholders through dividend payments and buybacks are encouraging. The company hiked its dividend payout by 5% in May 2017. However, high operating expenses are a cause of concern for Expeditors. Operating expenses in the third quarter rose 15.8% year-over-year. High operating expenses have the potantial to hurt the bottom line in the fourth quarter as well. The challenging conditions in the airfreight services market due to overcapacity woes raise concerns. We are also concerned about the adverse impact of foreign currency movements.”

Several other brokerages have also commented on EXPD. Cowen and Company restated a market perform rating and set a $58.00 target price (up previously from $54.00) on shares of Expeditors International of Washington in a research report on Wednesday, November 8th. Credit Suisse Group increased their price target on Expeditors International of Washington from $51.00 to $56.00 and gave the stock an underperform rating in a report on Wednesday, November 8th. UBS AG increased their price target on Expeditors International of Washington from $48.00 to $56.00 and gave the stock a sell rating in a report on Wednesday, November 8th. Barclays PLC increased their price target on Expeditors International of Washington from $58.00 to $63.00 and gave the stock an overweight rating in a report on Monday, October 2nd. Finally, Goldman Sachs Group, Inc. (The) began coverage on Expeditors International of Washington in a report on Monday. They issued a neutral rating and a $59.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Expeditors International of Washington currently has an average rating of Hold and a consensus price target of $59.38.

Shares of Expeditors International of Washington (NASDAQ EXPD) traded up $0.80 on Wednesday, reaching $59.78. The company’s stock had a trading volume of 1,387,784 shares, compared to its average volume of 1,118,046. Expeditors International of Washington has a fifty-two week low of $50.48 and a fifty-two week high of $62.63. The firm has a market cap of $10,553.77, a PE ratio of 24.85, a PEG ratio of 3.08 and a beta of 0.68.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, November 7th. The transportation company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. Expeditors International of Washington had a return on equity of 22.32% and a net margin of 6.50%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. equities analysts anticipate that Expeditors International of Washington will post 2.41 earnings per share for the current year.

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The company also recently declared a semiannual dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a yield of 1.4%. Expeditors International of Washington’s payout ratio is currently 35.15%.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Expeditors International of Washington by 2.8% in the second quarter. Vanguard Group Inc. now owns 19,704,393 shares of the transportation company’s stock valued at $1,112,904,000 after purchasing an additional 532,318 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Expeditors International of Washington by 24,524.1% in the second quarter. Janus Henderson Group PLC now owns 4,786,930 shares of the transportation company’s stock valued at $270,366,000 after purchasing an additional 4,767,490 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Expeditors International of Washington by 21.8% in the third quarter. Commonwealth Bank of Australia now owns 3,489,743 shares of the transportation company’s stock valued at $208,580,000 after purchasing an additional 624,542 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Expeditors International of Washington by 115.2% in the third quarter. APG Asset Management N.V. now owns 1,432,508 shares of the transportation company’s stock valued at $85,750,000 after purchasing an additional 766,900 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Expeditors International of Washington by 1.0% in the second quarter. Alliancebernstein L.P. now owns 1,385,114 shares of the transportation company’s stock valued at $78,231,000 after purchasing an additional 13,419 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Expeditors International of Washington Company Profile

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.

Analyst Recommendations for Expeditors International of Washington (NASDAQ:EXPD)

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