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

RXO (NYSE:RXO) announced its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01, Briefing.com reports. The company had revenue of $913.00 million during the quarter, compared to analyst estimates of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS.

RXO Stock Up 1.4 %

Shares of RXO stock traded up $0.29 during trading hours on Friday, reaching $20.41. 541,494 shares of the company’s stock were exchanged, compared to its average volume of 785,063. RXO has a fifty-two week low of $16.94 and a fifty-two week high of $24.33. The stock’s 50 day moving average is $20.58 and its 200-day moving average is $20.88. The company has a current ratio of 1.14, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -226.78, a P/E/G ratio of 7.08 and a beta of 1.24.

Analyst Upgrades and Downgrades

RXO has been the topic of a number of research reports. Susquehanna raised their target price on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research report on Monday, March 25th. Vertical Research lowered RXO from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Wednesday, January 10th. Benchmark reissued a “hold” rating on shares of RXO in a research report on Friday, April 19th. Stifel Nicolaus lifted their price objective on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Finally, TD Cowen increased their target price on shares of RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.27.

Insider Transactions at RXO

In other RXO news, major shareholder Mfn Partners, Lp purchased 919,720 shares of the stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $21.04 per share, with a total value of $19,350,908.80. Following the completion of the acquisition, the insider now owns 14,675,369 shares in the company, valued at $308,769,763.76. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders acquired 1,942,293 shares of company stock valued at $39,332,736 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

About RXO

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.