RXO (NYSE:RXO) Issues Earnings Results, Beats Estimates By $0.01 EPS

RXO (NYSE:RXO) posted its earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01, Briefing.com reports. The company had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $929.50 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share.

RXO Stock Up 1.4 %

NYSE RXO traded up $0.29 during trading on Friday, reaching $20.41. 541,494 shares of the company’s stock were exchanged, compared to its average volume of 659,802. The firm has a market capitalization of $2.40 billion, a PE ratio of 510.38, a P/E/G ratio of 6.69 and a beta of 1.24. RXO has a fifty-two week low of $16.94 and a fifty-two week high of $24.33. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $20.61 and its 200-day simple moving average is $20.87.

Insider Activity

In related news, major shareholder Mfn Partners, Lp acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average cost of $19.44 per share, with a total value of $1,944,000.00. Following the completion of the transaction, the insider now owns 17,075,369 shares of the company’s stock, valued at approximately $331,945,173.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 1,942,293 shares of company stock worth $39,332,736 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

RXO has been the topic of several recent research reports. TD Cowen lifted their price objective on shares of RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday. Stifel Nicolaus increased their price objective on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Vertical Research downgraded RXO from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Wednesday, January 10th. Oppenheimer reduced their price target on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 13th. Finally, Benchmark reissued a “hold” rating on shares of RXO in a report on Friday, April 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.27.

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.