RXO (NYSE:RXO) Issues Quarterly Earnings Results

RXO (NYSE:RXO) announced its quarterly earnings results on Thursday. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01, Briefing.com reports. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. During the same quarter in the prior year, the business posted $0.05 EPS. RXO’s quarterly revenue was up 6.6% on a year-over-year basis.

RXO Stock Up 3.8 %

Shares of RXO stock traded up $1.08 on Friday, hitting $29.79. 1,613,220 shares of the company’s stock traded hands, compared to its average volume of 861,337. RXO has a one year low of $17.29 and a one year high of $32.82. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $27.81 and a two-hundred day moving average of $25.68.

Analyst Ratings Changes

RXO has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. UBS Group increased their price objective on RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. TD Cowen raised their price target on RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Finally, Citigroup assumed coverage on RXO in a research report on Wednesday, October 9th. They issued a “buy” rating and a $33.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.23.

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.