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

RXO (NYSE:RXO - Get Free Report) posted 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 firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $956.19 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The company's revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share.

RXO Stock Up 3.8 %

Shares of RXO stock traded up $1.08 during trading hours on Friday, reaching $29.79. The company had a trading volume of 1,613,274 shares, compared to its average volume of 861,338. The business has a fifty day simple moving average of $27.84 and a 200-day simple moving average of $25.79. RXO has a 12 month low of $17.29 and a 12 month high of $32.82. The company has a market cap of $4.79 billion, a price-to-earnings ratio of -165.49, a price-to-earnings-growth ratio of 13.15 and a beta of 1.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Thursday, August 8th. TD Cowen upped their target price on RXO from $23.00 to $28.00 and gave the company a "hold" rating in a report on Thursday, August 8th. Morgan Stanley lifted their target price on shares of RXO from $19.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, August 12th. Benchmark reissued a "hold" rating on shares of RXO in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group cut their target price on RXO from $33.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average 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.