Jefferies Financial Group released an updated forecast of RXO’s profits for the first quarter of 2023, projecting earnings of $0.02 per share, a significant decrease from the original projection of $0.21 per share. Despite the revision, Jefferies Financial Group maintains a “buy” rating and $25.00 price target for the technology company, which is listed on the New York Stock Exchange (NYSE: RXO).
The investing community estimates RXO will finish the year with earnings of $0.84 per share. However, the company’s most recent quarterly report showed actual quarterly sales of $1.12 billion, lower than the predicted $1.18 billion, and a 15.6% decrease in revenue compared to the previous year’s period.
The debt-to-equity ratio of zero, a current ratio, fast ratio, and quick ratio of 1.38 each, and a 50-day simple moving average price of $17.60, are among the company’s key indicators. Recent opinions from independent equity research specialists suggest that investors maintain their current holdings in the stock, with some recommending purchasing the company.
Sigma Investment Counselors, INC has made a recent investment of approximately $228,000 in RXO during the final quarter of the year. Currently, hedge funds and institutional investors hold 9.85% of the total outstanding shares. RXO, INC, the operator of a digital marketplace, offers broker services for customers in North America for the transportation of full truckloads of freight. Along with this, the company also provides services in controlled transportation, negotiated freight forwarding, and last-mile delivery. The company began operations in 2022 and has chosen Charlotte, North Carolina, as its headquarters location.