RXO (NYSE:RXO) Announces Earnings Results, Misses Expectations By $0.02 EPS

RXO (NYSE:RXO) released its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02), Zacks reports. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.44 billion. RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The firm’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 EPS.

RXO Stock Down 8.0%

Shares of NYSE:RXO traded down $1.09 during trading on Friday, hitting $12.47. The company’s stock had a trading volume of 3,250,090 shares, compared to its average volume of 1,815,074. RXO has a fifty-two week low of $12.16 and a fifty-two week high of $31.11. The business has a 50 day moving average price of $16.70 and a two-hundred day moving average price of $16.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.32. The company has a market capitalization of $2.04 billion, a PE ratio of -28.99, a P/E/G ratio of 8.53 and a beta of 1.67.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RXO. Osaic Holdings Inc. raised its holdings in shares of RXO by 101.6% in the second quarter. Osaic Holdings Inc. now owns 8,507 shares of the company’s stock valued at $134,000 after buying an additional 4,287 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of RXO by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 104,861 shares of the company’s stock valued at $1,648,000 after buying an additional 1,007 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in RXO by 8.4% in the second quarter. Public Sector Pension Investment Board now owns 486,138 shares of the company’s stock valued at $7,642,000 after purchasing an additional 37,795 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of RXO by 776.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 20,985 shares of the company’s stock worth $330,000 after purchasing an additional 18,591 shares during the period. Finally, Orbis Allan Gray Ltd grew its stake in shares of RXO by 3.8% in the second quarter. Orbis Allan Gray Ltd now owns 31,375,221 shares of the company’s stock valued at $493,218,000 after buying an additional 1,142,710 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RXO. The Goldman Sachs Group reduced their target price on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Benchmark reiterated a “hold” rating on shares of RXO in a report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their price objective on shares of RXO from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, Zacks Research cut shares of RXO from a “hold” rating to a “strong sell” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $16.85.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.