C.H. Robinson Analysts Increase Their Forecasts After Q3 Results

C.H. Robinson Worldwide, Inc. CHRW reported better-than-expected earnings for the third quarter on Wednesday.

The company posted quarterly earnings of $1.28 per share which beat the analyst consensus estimate of $1.15 per share. The company reported quarterly sales of $4.645 billion which beat the analyst consensus estimate of $4.527 billion.

“I’m pleased with our third quarter results that reflect continued improvement in our execution, as we continue to deploy our new operating model. We are raising the bar, even in a historically prolonged freight recession, with strong execution and disciplined volume growth across divisions while delivering exceptional service for our customers and carriers,” said C.H. Robinson’s President and Chief Executive Officer, Dave Bozeman. “I want to thank our people, one of our greatest competitive advantages, for their relentless efforts to embrace our new operating model and execute in a fit, fast and focused way so we can keep pushing that bar higher.”

C.H. Robinson shares fell 5.9% to trade at $103.18 on Thursday.

These analysts made changes to their price targets on C.H. Robinson following earnings announcement.

• BMO Capital analyst Fadi Chamoun maintained C.H. Robinson Worldwide with a Market Perform and raised the price target from $92 to $115.
• TD Cowen analyst Jason Seidl maintained the stock with a Hold and raised the price target from $103 to $113.

Considering buying CHRW stock? Here’s what analysts think:

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