Radiant Logistics Inc (RLGT) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Radiant Logistics Inc (NASDAQ:RLGT) released its quarterly earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03), Briefing.com reports. The firm had revenue of $198.00 million for the quarter, compared to the consensus estimate of $210.37 million. Radiant Logistics had a negative net margin of 0.25% and a negative return on equity of 3.34%. Radiant Logistics’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share.
Shares of Radiant Logistics (RLGT) traded up $0.09 during trading on Friday, reaching $5.09. The company had a trading volume of 201,812 shares, compared to its average volume of 125,291. Radiant Logistics has a one year low of $2.79 and a one year high of $6.65.
A hedge fund recently raised its stake in Radiant Logistics stock. The Manufacturers Life Insurance Company increased its stake in Radiant Logistics Inc (NASDAQ:RLGT) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,970 shares of the company’s stock after purchasing an additional 489 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Radiant Logistics worth $172,000 at the end of the most recent quarter.
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Several equities analysts have recently weighed in on RLGT shares. Zacks Investment Research cut Radiant Logistics from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating and issued a $7.00 target price on shares of Radiant Logistics in a report on Thursday, September 7th.
About Radiant Logistics
Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.
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