RXO (NYSE:RXO) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

RXO (NYSE:RXO) posted its quarterly earnings results 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 firm had revenue of $913.00 million for the quarter, compared to the consensus estimate of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share.

RXO Price Performance

NYSE RXO opened at $20.41 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 0.60. RXO has a one year low of $16.94 and a one year high of $24.33. The company has a 50-day simple moving average of $20.58 and a 200-day simple moving average of $20.88.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp bought 919,720 shares of the stock in a transaction dated Thursday, February 8th. The stock was bought at an average cost 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 of the company’s stock, valued at $308,769,763.76. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 1,942,293 shares of company stock worth $39,332,736 over the last quarter. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Benchmark restated a “hold” rating on shares of RXO in a research report on Friday, April 19th. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Wednesday, January 10th. Oppenheimer reduced their price target on RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $22.00 in a report on Thursday, February 8th. Finally, TD Cowen boosted their price objective on shares of RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.27.

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.