C.H. Robinson Worldwide (NASDAQ:CHRW) Announces Quarterly Earnings Results

C.H. Robinson Worldwide (NASDAQ:CHRW) announced its quarterly earnings data on Wednesday. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.16, Briefing.com reports. C.H. Robinson Worldwide had a return on equity of 31.35% and a net margin of 1.96%. The business had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the company earned $0.84 earnings per share. C.H. Robinson Worldwide’s revenue was up 7.0% compared to the same quarter last year.

C.H. Robinson Worldwide Stock Down 1.2 %

CHRW opened at $101.82 on Friday. The stock has a market cap of $11.94 billion, a PE ratio of 35.23, a P/E/G ratio of 1.44 and a beta of 0.82. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.94. C.H. Robinson Worldwide has a 52 week low of $65.00 and a 52 week high of $113.10. The business’s fifty day simple moving average is $105.72 and its 200 day simple moving average is $93.14.

C.H. Robinson Worldwide Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Friday, September 6th. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. C.H. Robinson Worldwide’s dividend payout ratio is currently 85.81%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Benchmark increased their price objective on C.H. Robinson Worldwide from $90.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on C.H. Robinson Worldwide from $97.00 to $107.00 and gave the company a “neutral” rating in a report on Friday. Vertical Research upgraded C.H. Robinson Worldwide from a “sell” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Tuesday, July 9th. Robert W. Baird increased their target price on C.H. Robinson Worldwide from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, TD Cowen increased their target price on C.H. Robinson Worldwide from $103.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, C.H. Robinson Worldwide currently has an average rating of “Hold” and a consensus price target of $103.53.

Insider Activity at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 10,894 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $98.38, for a total transaction of $1,071,751.72. Following the transaction, the insider now directly owns 70,943 shares of the company’s stock, valued at approximately $6,979,372.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.47% of the stock is owned by insiders.

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.