QXO (NYSE:QXO) Releases Earnings Results

QXO (NYSE:QXO) released its quarterly earnings data on Tuesday. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03), FiscalAI reports. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The company’s quarterly revenue was up 12716.3% on a year-over-year basis.

QXO Price Performance

QXO stock traded down $0.65 during trading on Wednesday, hitting $17.10. The stock had a trading volume of 7,243,070 shares, compared to its average volume of 10,460,091. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61. QXO has a twelve month low of $15.27 and a twelve month high of $27.61. The stock has a market capitalization of $12.39 billion, a P/E ratio of -28.99, a PEG ratio of 2.60 and a beta of 2.40. The company’s 50-day moving average price is $20.69 and its two-hundred day moving average price is $21.15.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup reduced their price objective on QXO from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Benchmark reiterated a “buy” rating on shares of QXO in a research note on Friday, February 20th. Robert W. Baird reduced their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday. Wall Street Zen cut QXO from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, BNP Paribas Exane started coverage on QXO in a research report on Monday, March 16th. They set an “outperform” rating and a $30.00 target price on the stock. Sixteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Institutional Investors Weigh In On QXO

Several institutional investors have recently bought and sold shares of QXO. Arax Advisory Partners acquired a new position in shares of QXO during the 4th quarter worth approximately $25,000. Russell Investments Group Ltd. acquired a new position in shares of QXO during the 2nd quarter worth approximately $30,000. NewEdge Advisors LLC boosted its holdings in shares of QXO by 42.4% during the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Danske Bank A S acquired a new position in shares of QXO during the 3rd quarter worth approximately $53,000. Finally, GW&K Investment Management LLC boosted its holdings in shares of QXO by 78.3% during the 4th quarter. GW&K Investment Management LLC now owns 2,880 shares of the company’s stock worth $56,000 after purchasing an additional 1,265 shares during the last quarter. 58.68% of the stock is currently owned by institutional investors and hedge funds.

About QXO

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.