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CH Robinson Reports In-Line 3Q EPS, Piper Jaffray Remains Neutral

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Piper Jaffray has published a research report on CH Robinson Worldwide (NASDAQ: CHRW) after the company reported 3Q earnings yesterday after market close.

In the report, Piper Jaffray writes, "Yesterday after market, CHRW reported 3Q11 EPS of $0.70 (+12.2% y-o-y), which was inline with Consensus $0.70, but above our $0.69 estimate. However, included is roughly a penny benefit from lower-than-expected tax rate, which when excluded is closer to $0.69. 3Q11 total net revenue of $423.1M (+10.6% y-o-y) was above our 8.8% estimate helped primarily by stronger Truck and Sourcing volume."

Piper Jaffray maintains its Neutral rating and $81 price target on CH Robinson, which is currently trading down $4.97 from yesterday's $74.88 closing price.

Posted-In: Piper JaffrayAnalyst Color Earnings News Reiteration Analyst Ratings

 

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