Expeditors International of Washington (EXPD) : Beacon Financial Group reduced its stake in Expeditors International of Washington by 4.07% during the most recent quarter end. The investment management company now holds a total of 52,708 shares of Expeditors International of Washington which is valued at $2.6 Million after selling 2,237 shares in Expeditors International of Washington according to a report filed by the company on Apr 1, 2016 with the SEC.Expeditors International of Washington makes up approximately 0.56% of Beacon Financial Group’s portfolio.
On the company’s financial health, Expeditors International of Washington reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $0.60. The company had revenue of $1596.20 million for the quarter, compared to analysts expectations of $1702.99 million. The company’s revenue was down -9.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.51 EPS.
Many Wall Street Analysts have commented on Expeditors International of Washington. Cowen Initiated Expeditors International of Washington on Mar 18, 2016 to “Market Perform”, Price Target of the shares are set at $53.Shares were Downgraded by RBC Capital Mkts on Jan 7, 2016 to ” Sector Perform” and Lowered the Price Target to $ 46 from a previous price target of $56 .
Expeditors International of Washington opened for trading at $47.79 and hit $48.33 on the upside on Monday, eventually ending the session at $47.91, with a gain of 0.88% or 0.42 points. The heightened volatility saw the trading volume jump to 12,40,762 shares. Company has a market cap of $8,725 M.
Expeditors International of Washington Inc. is engaged in the business of providing global logistics services. The Companys services include air and ocean freight transportation and customs brokerage. The Company also provides additional services including order management time-definite transportation warehousing and distribution cargo insurance and logistics solutions. The Company operates in Americas including the United States Other North America and Latin America; Asia Pacific; Europe and Middle East Africa and India. The Company provides airfreight services and acts either as a freight consolidator or as an agent for the airline which carries the shipment. The Company operates Expeditors International Ocean Inc. (EIO) an Ocean Transportation Intermediary also known as Non-Vessel Operating Common Carrier (NVOCC) which specializes in ocean freight services in trade lanes across the world.