RXO (NYSE:RXO) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

RXO Price Performance

Shares of RXO traded up $1.08 during trading hours on Friday, reaching $29.79. The stock had a trading volume of 1,613,220 shares, compared to its average volume of 861,337. RXO has a 12 month low of $17.29 and a 12 month high of $32.82. The company’s 50-day moving average is $27.81 and its two-hundred day moving average is $25.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

RXO has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Citigroup assumed coverage on RXO in a report on Wednesday, October 9th. They set a “buy” rating and a $33.00 price target for the company. UBS Group lifted their price objective on shares of RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Benchmark restated a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Finally, TD Cowen increased 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, RXO currently has an average rating of “Hold” and a consensus target price 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.