C.H. Robinson Worldwide (NASDAQ:CHRW) Hits New 1-Year High Following Strong Earnings

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s share price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $105.30 and last traded at $103.73, with a volume of 693012 shares. The stock had previously closed at $89.05.

The transportation company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.96 by $0.19. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.53 billion. C.H. Robinson Worldwide had a net margin of 1.74% and a return on equity of 26.34%. C.H. Robinson Worldwide’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS.

C.H. Robinson Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a $0.61 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.44 dividend on an annualized basis and a yield of 2.34%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 96.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on C.H. Robinson Worldwide from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Barclays lifted their price objective on shares of C.H. Robinson Worldwide from $65.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Raymond James began coverage on shares of C.H. Robinson Worldwide in a research note on Wednesday, May 15th. They issued a “market perform” rating on the stock. UBS Group raised C.H. Robinson Worldwide from a “sell” rating to a “neutral” rating and boosted their price target for the company from $71.00 to $90.00 in a report on Thursday, June 6th. Finally, TD Cowen raised their price target on shares of C.H. Robinson Worldwide from $86.00 to $103.00 and gave the company a “hold” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, C.H. Robinson Worldwide has a consensus rating of “Hold” and an average price target of $92.22.

Hedge Funds Weigh In On C.H. Robinson Worldwide

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Empirical Finance LLC grew its position in shares of C.H. Robinson Worldwide by 3.4% in the first quarter. Empirical Finance LLC now owns 4,271 shares of the transportation company’s stock valued at $325,000 after purchasing an additional 140 shares in the last quarter. Quent Capital LLC boosted its stake in C.H. Robinson Worldwide by 94.8% during the second quarter. Quent Capital LLC now owns 300 shares of the transportation company’s stock worth $26,000 after buying an additional 146 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its stake in shares of C.H. Robinson Worldwide by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 5,818 shares of the transportation company’s stock worth $503,000 after acquiring an additional 165 shares during the last quarter. Redwood Investment Management LLC boosted its position in shares of C.H. Robinson Worldwide by 0.6% during the 1st quarter. Redwood Investment Management LLC now owns 28,147 shares of the transportation company’s stock valued at $2,143,000 after acquiring an additional 165 shares during the last quarter. Finally, Kentucky Retirement Systems increased its position in C.H. Robinson Worldwide by 2.0% during the fourth quarter. Kentucky Retirement Systems now owns 9,333 shares of the transportation company’s stock worth $806,000 after purchasing an additional 181 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Stock Up 17.3 %

The firm’s fifty day simple moving average is $87.12 and its two-hundred day simple moving average is $80.03. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.99.

About C.H. Robinson Worldwide

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.