RXO (NYSE:RXO) Announces Quarterly Earnings Results

RXO (NYSE:RXO) issued its quarterly earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02), Zacks reports. RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year.

RXO Stock Down 8.0%

Shares of RXO stock traded down $1.09 on Friday, hitting $12.47. 3,250,090 shares of the company’s stock traded hands, compared to its average volume of 1,815,074. The company has a quick ratio of 1.35, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average is $16.70 and its 200 day moving average is $16.02. The stock has a market cap of $2.04 billion, a P/E ratio of -28.99, a PEG ratio of 8.53 and a beta of 1.67. RXO has a 52-week low of $12.16 and a 52-week high of $31.11.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RXO in a research report on Wednesday, October 8th. Cowen restated a “hold” rating on shares of RXO in a research note on Friday, August 8th. Zacks Research cut RXO from a “hold” rating to a “strong sell” rating in a report on Thursday. Susquehanna dropped their target price on shares of RXO from $11.00 to $10.00 and set a “negative” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group cut their price target on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $16.85.

Institutional Investors Weigh In On RXO

Institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in RXO during the first quarter worth $30,000. Strs Ohio acquired a new stake in shares of RXO during the first quarter worth $97,000. Osaic Holdings Inc. lifted its position in shares of RXO by 101.6% in the 2nd quarter. Osaic Holdings Inc. now owns 8,507 shares of the company’s stock worth $134,000 after buying an additional 4,287 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in shares of RXO in the 2nd quarter valued at about $190,000. Finally, Quantbot Technologies LP bought a new stake in shares of RXO during the 2nd quarter valued at about $245,000. 92.73% of the stock is currently owned by institutional investors.

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.