Expeditors International (EXPD) - Bear of the Day

By Zacks.com,  June 26, 2012, 01:00:01 AM EDT

We downgrade our recommendation on Expeditors International ( EXPD ) to Underperform, given a lackluster performance in its first quarter. The company's adjusted earnings missed the Zacks Consensus Estimate and deteriorated from the year-ago level.

A dull revenue performance in air and ocean freight segments was primarily responsible for the underperformance. Total revenue was also lower than expected, given an unfavorable demand trend.

We remain concerned about the macroeconomic environment that continues to affect global demand trends, thereby hurting Expeditors' performance. Hence our Underperform rating with a price target of $35, based on 19.6x our earnings estimate for 2012.
 
EXPEDITORS INTL (EXPD): Free Stock Analysis Report
 
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: EXPD



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