C.H. Robinson Worldwide (NASDAQ:CHRW) Shares Gap Up Following Strong Earnings

Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $72.09, but opened at $81.00. C.H. Robinson Worldwide shares last traded at $83.98, with a volume of 1,031,430 shares.

The transportation company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.26. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.27 billion. C.H. Robinson Worldwide had a return on equity of 26.46% and a net margin of 1.74%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Thursday, February 29th. C.H. Robinson Worldwide’s payout ratio is 96.44%.

Analyst Upgrades and Downgrades

CHRW has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on C.H. Robinson Worldwide from $80.00 to $70.00 and set an “underweight” rating on the stock in a research note on Thursday, February 1st. BNP Paribas restated a “neutral” rating and issued a $76.00 price objective on shares of C.H. Robinson Worldwide in a research note on Wednesday, March 27th. TD Cowen boosted their price objective on C.H. Robinson Worldwide from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on C.H. Robinson Worldwide from $84.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Finally, Barclays boosted their price objective on C.H. Robinson Worldwide from $65.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $82.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Montag A & Associates Inc. purchased a new position in shares of C.H. Robinson Worldwide during the fourth quarter worth about $30,000. Larson Financial Group LLC purchased a new stake in C.H. Robinson Worldwide in the third quarter worth approximately $31,000. Pacific Center for Financial Services purchased a new stake in C.H. Robinson Worldwide in the third quarter worth approximately $34,000. UMB Bank n.a. boosted its stake in C.H. Robinson Worldwide by 147.0% in the first quarter. UMB Bank n.a. now owns 494 shares of the transportation company’s stock worth $38,000 after buying an additional 294 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its stake in C.H. Robinson Worldwide by 336.0% in the fourth quarter. Evermay Wealth Management LLC now owns 545 shares of the transportation company’s stock worth $47,000 after buying an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Performance

The firm has a market cap of $9.50 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 3.70 and a beta of 0.75. The company has a 50 day simple moving average of $72.69 and a 200-day simple moving average of $79.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.40 and a quick ratio of 1.40.

C.H. Robinson Worldwide Company Profile

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.