QXO (NYSE:QXO) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

QXO (NYSE:QXO) announced its quarterly earnings data on Wednesday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01), FiscalAI reports. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion.

QXO Price Performance

NYSE QXO traded down $1.00 during trading on Wednesday, reaching $24.14. The company’s stock had a trading volume of 4,038,845 shares, compared to its average volume of 8,825,505. The stock has a market capitalization of $16.29 billion, a PE ratio of -54.87, a P/E/G ratio of 3.09 and a beta of 2.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. The firm has a fifty day moving average of $23.46 and a 200 day moving average of $20.86. QXO has a one year low of $11.95 and a one year high of $27.61.

Institutional Investors Weigh In On QXO

A number of institutional investors and hedge funds have recently bought and sold shares of QXO. Schf GPE LLC grew its stake in QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of QXO by 110.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,513,588 shares of the company’s stock worth $125,648,000 after acquiring an additional 3,417,670 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of QXO by 4.1% during the 4th quarter. Federated Hermes Inc. now owns 3,307,600 shares of the company’s stock worth $63,804,000 after acquiring an additional 129,500 shares during the last quarter. Select Equity Group L.P. purchased a new position in QXO in the second quarter worth $70,010,000. Finally, Charles Schwab Investment Management Inc. increased its stake in QXO by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,906,891 shares of the company’s stock valued at $56,074,000 after acquiring an additional 45,285 shares during the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Oppenheimer lifted their price objective on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Loop Capital assumed coverage on shares of QXO in a research report on Thursday, December 11th. They set a “buy” rating and a $31.00 target price for the company. William Blair reissued an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a report on Friday, January 9th. Finally, Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

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.