Q2 2023 Earnings Forecast for C.H. Robinson Worldwide, Inc. Issued By Zacks Research (NASDAQ:CHRW)

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Get Rating) – Investment analysts at Zacks Research lowered their Q2 2023 EPS estimates for C.H. Robinson Worldwide in a research note issued on Wednesday, May 10th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $0.84 per share for the quarter, down from their previous forecast of $0.94. The consensus estimate for C.H. Robinson Worldwide’s current full-year earnings is $4.04 per share. Zacks Research also issued estimates for C.H. Robinson Worldwide’s Q3 2023 earnings at $0.91 EPS, Q3 2024 earnings at $1.74 EPS, Q4 2024 earnings at $1.60 EPS and Q1 2025 earnings at $0.67 EPS.

C.H. Robinson Worldwide (NASDAQ:CHRW – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.03). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.80 billion. C.H. Robinson Worldwide had a return on equity of 50.56% and a net margin of 3.50%. The business’s revenue for the quarter was down 32.3% on a year-over-year basis. During the same period last year, the company earned $2.05 EPS.

Several other analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of C.H. Robinson Worldwide from $107.00 to $100.00 in a research note on Friday, February 3rd. Morgan Stanley initiated coverage on shares of C.H. Robinson Worldwide in a research note on Thursday, February 2nd. They set a “sell” rating and a $64.00 price objective on the stock. Susquehanna decreased their price objective on shares of C.H. Robinson Worldwide from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, April 10th. Wells Fargo & Company decreased their price target on shares of C.H. Robinson Worldwide from $95.00 to $90.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 12th. Finally, Sanford C. Bernstein decreased their price target on shares of C.H. Robinson Worldwide from $110.00 to $92.00 and set a “market perform” rating on the stock in a research note on Thursday, February 2nd. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.64.

C.H. Robinson Worldwide Price Performance

Shares of C.H. Robinson Worldwide stock opened at $99.24 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 3.53 and a beta of 0.79. C.H. Robinson Worldwide has a 1-year low of $86.60 and a 1-year high of $121.23. The firm’s 50-day moving average price is $98.11 and its two-hundred day moving average price is $97.18.

Institutional Investors Weigh In On C.H. Robinson Worldwide

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Red Tortoise LLC bought a new position in C.H. Robinson Worldwide in the fourth quarter valued at $26,000. Massmutual Trust Co. FSB ADV grew its position in C.H. Robinson Worldwide by 75.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 260 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 112 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in C.H. Robinson Worldwide in the fourth quarter valued at $27,000. Westside Investment Management Inc. bought a new position in C.H. Robinson Worldwide in the fourth quarter valued at $27,000. Finally, CoreCap Advisors LLC bought a new position in C.H. Robinson Worldwide in the fourth quarter valued at $29,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other C.H. Robinson Worldwide news, insider Michael John Short sold 16,155 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $104.56, for a total value of $1,689,166.80. Following the sale, the insider now directly owns 75,937 shares in the company, valued at $7,939,972.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Michael John Short sold 16,155 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $104.56, for a total transaction of $1,689,166.80. Following the sale, the insider now directly owns 75,937 shares in the company, valued at $7,939,972.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mac S. Pinkerton sold 7,624 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $101.57, for a total transaction of $774,369.68. Following the sale, the insider now owns 87,001 shares in the company, valued at $8,836,691.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,275 shares of company stock worth $2,817,646. Company insiders own 1.47% of the company’s stock.

C.H. Robinson Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be issued a $0.61 dividend. The ex-dividend date is Thursday, June 1st. This represents a $2.44 annualized dividend and a yield of 2.46%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 39.29%.

About C.H. Robinson Worldwide

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C.H. Robinson Worldwide, Inc engages in the provision of freight transportation services and logistics solutions. It operates through the following three segments: North American Surface Transportation and Global Forwarding. The North American Surface Transportation segment provides freight transportation services across North America through a network of offices in the United States, Canada, and Mexico.