RXO (NYSE:RXO) Announces Quarterly Earnings Results

RXO (NYSE:RXO - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01, Briefing.com reports. RXO had a return on equity of 6.11% and a net margin of 0.10%. The business had revenue of $913.00 million for the quarter, compared to analysts' expectations of $929.50 million. During the same period in the prior year, the firm posted $0.11 EPS. The firm's quarterly revenue was down 9.6% on a year-over-year basis.

RXO Price Performance

RXO traded up $0.29 during trading hours on Friday, hitting $20.41. The company's stock had a trading volume of 541,494 shares, compared to its average volume of 659,802. RXO has a 12 month low of $16.94 and a 12 month high of $24.33. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The business's 50-day moving average price is $20.61 and its 200-day moving average price is $20.87. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 510.38, a P/E/G ratio of 6.69 and a beta of 1.24.

Insider Activity at RXO

In other news, major shareholder Mfn Partners, Lp acquired 919,720 shares of the company's stock in a transaction on 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 purchase, the insider now directly owns 14,675,369 shares of the company's stock, valued at $308,769,763.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders acquired 1,942,293 shares of company stock valued at $39,332,736. Insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RXO shares. Vertical Research downgraded shares of RXO from a "buy" rating to a "hold" rating and set a $23.00 price objective on the stock. in a research report on Wednesday, January 10th. Bank of America downgraded RXO from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Stifel Nicolaus lifted their price target on shares of RXO from $20.00 to $22.00 and gave the company a "hold" rating in a report on Wednesday, January 10th. TD Cowen raised their price objective on shares of RXO from $19.00 to $20.00 and gave the company a "hold" rating in a research report on Friday. Finally, Oppenheimer cut their price target on RXO from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, RXO presently has a consensus rating of "Hold" and a consensus target price of $20.27.

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.

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