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Airfreight Revenues Aid Expeditors (EXPD), Low Volumes Hurt
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We recently issued an updated report on Expeditors International of Washington, Inc. (EXPD - Free Report) .
Expeditors is being aided by the uptick in airfreight revenues. Notably, revenues from its airfreight services segment increased 49% in the first nine months of 2020. The coronavirus-induced cancellation of multiple passenger flights (that usually carry freight as well as passenger luggage) increased the usage of charters.
We are also impressed by Expeditors' efforts to reward shareholders through dividend payments and buybacks. In May 2020, the company announced 4% hike in semi-annual cash dividend to 52 cents per share (annualized $1.04 per share). During the first nine months of 2020, Expeditors repurchased 4.4 million shares at an average price of $71.41 per share.
Meanwhile, the company is hurt by the decline in volumes stemming from coronavirus-led disruptions. Notably, volumes pertaining to airfreight tonnage and ocean container contracted 5% each in the September quarter.
The trade tensions between the United States and China proved to be a huge setback for Expeditors. Given the company’s exposure in China (26% of 2019 revenues came from China exports and imports), it is suffering from low shipment volumes.
Zacks Rank & Stocks to Consider
Expeditors currently carries a Zacks Rank #3 (Hold).
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Landstar and Herc Holdings is pegged at 15%, 12% and 12.6%, respectively.
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Airfreight Revenues Aid Expeditors (EXPD), Low Volumes Hurt
We recently issued an updated report on Expeditors International of Washington, Inc. (EXPD - Free Report) .
Expeditors is being aided by the uptick in airfreight revenues. Notably, revenues from its airfreight services segment increased 49% in the first nine months of 2020. The coronavirus-induced cancellation of multiple passenger flights (that usually carry freight as well as passenger luggage) increased the usage of charters.
We are also impressed by Expeditors' efforts to reward shareholders through dividend payments and buybacks. In May 2020, the company announced 4% hike in semi-annual cash dividend to 52 cents per share (annualized $1.04 per share). During the first nine months of 2020, Expeditors repurchased 4.4 million shares at an average price of $71.41 per share.
Meanwhile, the company is hurt by the decline in volumes stemming from coronavirus-led disruptions. Notably, volumes pertaining to airfreight tonnage and ocean container contracted 5% each in the September quarter.
The trade tensions between the United States and China proved to be a huge setback for Expeditors. Given the company’s exposure in China (26% of 2019 revenues came from China exports and imports), it is suffering from low shipment volumes.
Zacks Rank & Stocks to Consider
Expeditors currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Landstar System, Inc. (LSTR - Free Report) and Herc Holdings Inc. (HRI - Free Report) . Landstar and Knight-Swift carry a Zacks Rank #2 (Buy), while Herc Holdings sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Landstar and Herc Holdings is pegged at 15%, 12% and 12.6%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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