RXO (NYSE:RXO) Posts Earnings Results, Hits Expectations

RXO (NYSE:RXO) announced its quarterly earnings results on Wednesday. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03, Briefing.com reports. The business had revenue of $930.00 million for the quarter, compared to analysts’ expectations of $934.14 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS.

RXO Price Performance

NYSE:RXO traded down $0.13 during trading hours on Friday, hitting $28.72. The stock had a trading volume of 864,384 shares, compared to its average volume of 832,853. The company has a 50 day simple moving average of $26.03 and a two-hundred day simple moving average of $22.61. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -319.11, a P/E/G ratio of 5.60 and a beta of 1.38. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.14. RXO has a one year low of $16.94 and a one year high of $32.82.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RXO. JPMorgan Chase & Co. increased their price objective on RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Thursday. Stephens restated an “equal weight” rating and set a $22.00 price objective on shares of RXO in a research note on Monday, May 6th. Barclays boosted their target price on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Raymond James started coverage on RXO in a research note on Wednesday, May 15th. They issued a “market perform” rating for the company. Finally, Oppenheimer lifted their target price on RXO from $22.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, RXO presently has an average rating of “Hold” and an average target price of $24.45.

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.