QXO (NYSE:QXO) Announces Earnings Results

QXO (NYSE:QXO) announced its earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08, FiscalAI reports. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. QXO had a positive return on equity of 2.44% and a negative net margin of 5.17%.

QXO Stock Performance

NYSE:QXO traded down $0.36 on Friday, reaching $14.53. 25,343,258 shares of the company’s stock were exchanged, compared to its average volume of 19,748,694. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of -16.14, a P/E/G ratio of 2.51 and a beta of 2.28. QXO has a 52 week low of $13.18 and a 52 week high of $27.61. The stock has a fifty day simple moving average of $15.48 and a 200-day simple moving average of $19.01.

Institutional Investors Weigh In On QXO

A number of institutional investors and hedge funds have recently modified their holdings of QXO. Bank of Montreal Can bought a new stake in shares of QXO during the 4th quarter worth $203,000. GeoWealth Management LLC bought a new position in QXO in the fourth quarter valued at $182,000. Sunbelt Securities Inc. raised its position in QXO by 6.8% during the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock valued at $122,000 after purchasing an additional 400 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in QXO during the fourth quarter valued at about $115,000. Finally, Advisory Services Network LLC bought a new stake in QXO during the third quarter worth about $86,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QXO. Wells Fargo & Company set a $18.00 price objective on shares of QXO in a report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of QXO in a research note on Friday. Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Royal Bank Of Canada restated an “outperform” rating and set a $27.00 price target on shares of QXO in a research note on Friday, July 10th. Finally, Citigroup lowered their price target on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, QXO has an average rating of “Moderate Buy” and an average target price of $29.71.

QXO Company Profile

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.