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C.H. Robinson Worldwide (NASDAQ:CHRW) Shares Gap Up Following Better-Than-Expected Earnings

C.H. Robinson Worldwide logo with Transportation background

Key Points

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C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $97.65, but opened at $110.47. C.H. Robinson Worldwide shares last traded at $112.80, with a volume of 1,090,946 shares trading hands.

The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.17 by $0.12. C.H. Robinson Worldwide had a net margin of 3.14% and a return on equity of 35.01%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The business's revenue for the quarter was down 7.7% compared to the same quarter last year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, June 6th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.2%. C.H. Robinson Worldwide's payout ratio is 56.49%.

Analyst Upgrades and Downgrades

CHRW has been the subject of a number of recent research reports. TD Cowen boosted their price objective on C.H. Robinson Worldwide from $112.00 to $116.00 and gave the company a "hold" rating in a research note on Thursday. Bank of America boosted their price objective on C.H. Robinson Worldwide from $106.00 to $117.00 and gave the company a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on C.H. Robinson Worldwide from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Barclays reissued an "underweight" rating and issued a $95.00 price target (up from $90.00) on shares of C.H. Robinson Worldwide in a report on Thursday. Finally, Jefferies Financial Group decreased their price objective on C.H. Robinson Worldwide from $110.00 to $100.00 and set a "hold" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, C.H. Robinson Worldwide presently has an average rating of "Moderate Buy" and a consensus target price of $116.33.

Check Out Our Latest Research Report on CHRW

Insider Activity

In other news, insider Angela K. Freeman sold 5,700 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $97.42, for a total transaction of $555,294.00. Following the transaction, the insider owned 71,441 shares of the company's stock, valued at approximately $6,959,782.22. This represents a 7.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.47% of the company's stock.

Institutional Investors Weigh In On C.H. Robinson Worldwide

Institutional investors have recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. boosted its holdings in C.H. Robinson Worldwide by 2.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,978 shares of the transportation company's stock worth $407,000 after acquiring an additional 105 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in C.H. Robinson Worldwide by 0.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 14,272 shares of the transportation company's stock valued at $1,483,000 after acquiring an additional 112 shares in the last quarter. Perpetual Ltd raised its position in C.H. Robinson Worldwide by 2.3% during the second quarter. Perpetual Ltd now owns 5,033 shares of the transportation company's stock valued at $483,000 after acquiring an additional 112 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in C.H. Robinson Worldwide by 5.5% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,181 shares of the transportation company's stock valued at $223,000 after acquiring an additional 114 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in C.H. Robinson Worldwide by 31.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 482 shares of the transportation company's stock valued at $49,000 after purchasing an additional 116 shares during the period. Institutional investors own 93.15% of the company's stock.

C.H. Robinson Worldwide Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.29. The firm has a fifty day simple moving average of $97.53 and a 200 day simple moving average of $97.35. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86.

About C.H. Robinson Worldwide

(Get Free Report)

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.

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