RXO (NYSE:RXO) Posts Earnings Results, Beats Expectations By $0.03 EPS

RXO (NYSE:RXOGet Free Report) announced its earnings results on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03, Briefing.com reports. RXO had a net margin of 0.10% and a return on equity of 6.11%. The business had revenue of $978.00 million for the quarter, compared to analyst estimates of $996.33 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. RXO’s revenue was down 12.7% compared to the same quarter last year.

RXO Trading Down 2.3 %

Shares of RXO stock opened at $20.28 on Friday. The stock has a fifty day simple moving average of $22.31 and a 200 day simple moving average of $20.22. RXO has a 12-month low of $16.94 and a 12-month high of $24.33. The company has a market capitalization of $2.37 billion, a P/E ratio of 507.13, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The company has a current ratio of 1.17, a quick ratio of 1.29 and a debt-to-equity ratio of 0.60.

Insider Buying and Selling

In other RXO news, Director Christine S. Breves acquired 5,100 shares of the business’s stock in a transaction on Friday, November 17th. The shares were acquired at an average price of $19.90 per share, with a total value of $101,490.00. Following the completion of the transaction, the director now owns 6,948 shares in the company, valued at $138,265.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other RXO news, Director Christine S. Breves bought 5,100 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were acquired at an average cost of $19.90 per share, for a total transaction of $101,490.00. Following the purchase, the director now directly owns 6,948 shares of the company’s stock, valued at $138,265.20. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Mfn Partners, Lp bought 30,522 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was acquired at an average price of $18.15 per share, for a total transaction of $553,974.30. Following the completion of the purchase, the insider now directly owns 12,705,891 shares in the company, valued at $230,611,921.65. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 953,372 shares of company stock worth $19,148,700. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RXO

Several institutional investors and hedge funds have recently bought and sold shares of RXO. BlackRock Inc. grew its position in RXO by 43.2% during the 1st quarter. BlackRock Inc. now owns 15,931,874 shares of the company’s stock worth $312,902,000 after acquiring an additional 4,804,495 shares during the last quarter. Geode Capital Management LLC bought a new position in RXO during the 4th quarter worth approximately $25,891,000. Millennium Management LLC bought a new position in RXO during the 4th quarter worth approximately $20,030,000. Fred Alger Management LLC grew its position in RXO by 3,073.1% during the 1st quarter. Fred Alger Management LLC now owns 1,111,911 shares of the company’s stock worth $21,838,000 after acquiring an additional 1,076,869 shares during the last quarter. Finally, Norges Bank bought a new position in RXO during the 4th quarter worth approximately $16,775,000. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Vertical Research lowered shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Wednesday, January 10th. TD Cowen boosted their target price on shares of RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research report on Friday. Susquehanna dropped their target price on shares of RXO from $18.00 to $15.00 and set a “negative” rating on the stock in a research report on Friday. Bank of America lowered shares of RXO from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $22.00 in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, RXO presently has a consensus rating of “Hold” and an average price target of $20.58.

View Our Latest Research Report on RXO

RXO Company Profile

(Get Free Report)

RXO, Inc provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc was founded in 2022 and is based in Charlotte, North Carolina.

Further Reading

Earnings History for RXO (NYSE:RXO)

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