RXO (NYSE:RXO) Releases Earnings Results, Misses Estimates By $0.02 EPS

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

RXO Trading Down 8.0%

NYSE RXO traded down $1.09 during mid-day trading on Friday, reaching $12.47. 3,250,090 shares of the stock were exchanged, compared to its average volume of 1,815,074. The stock has a market capitalization of $2.04 billion, a PE ratio of -28.99, a PEG ratio of 8.53 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.32. RXO has a 1-year low of $12.16 and a 1-year high of $31.11. The business’s fifty day simple moving average is $16.70 and its 200 day simple moving average is $16.02.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RXO shares. Wall Street Zen downgraded shares of RXO from a “hold” rating to a “sell” rating in a report on Saturday. Cowen restated a “hold” rating on shares of RXO in a report on Friday, August 8th. The Goldman Sachs Group reduced their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Zacks Research downgraded RXO from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, Susquehanna dropped their price target on RXO from $11.00 to $10.00 and set a “negative” rating for the company in a research report on Friday. Three 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. According to MarketBeat.com, RXO presently has an average rating of “Reduce” and a consensus target price of $16.85.

Institutional Investors Weigh In On RXO

A number of institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. purchased a new stake in shares of RXO in the first quarter worth about $30,000. Strs Ohio acquired a new position in RXO during the 1st quarter worth approximately $97,000. Osaic Holdings Inc. boosted its holdings in 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 acquiring an additional 4,287 shares during the period. iSAM Funds UK Ltd acquired a new stake in RXO in the second quarter valued at approximately $190,000. Finally, Quantbot Technologies LP purchased a new stake in shares of RXO during the second quarter valued at approximately $245,000. 92.73% of the stock is currently owned by hedge funds and other 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.