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RXO (RXO) Soars 8.5%: Is Further Upside Left in the Stock?
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RXO (RXO) shares rallied 8.5% in the last trading session to close at $29.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 35.1% gain over the past four weeks.
RXO shares have been performing well for quite some time, gaining in excess of 44% in a month's time. Last month RXO inked a deal with transportation heavyweight United Parcel Service (UPS - Free Report) to purchase Coyote Logistics from for more than $1 billion. The deal with UPS has led to the northward movement in RXO shares.RXO's recent deal with Shiplify to Improve invoice transparency for LTL customers is also a positive.
This transportation services provider is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -75%. Revenues are expected to be $949.34 million, down 1.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For RXO, the consensus EPS estimate for the quarter has been revised 7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RXO going forward to see if this recent jump can turn into more strength down the road.
RXO belongs to the Zacks Transportation - Services industry. Another stock from the same industry, Global Business Travel Group, Inc. (GBTG), closed the last trading session 0.6% higher at $6.57. Over the past month, GBTG has returned 1.6%.
Global Business Travel Group, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +87%. Global Business Travel Group, Inc. currently boasts a Zacks Rank of #3 (Hold).
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RXO (RXO) Soars 8.5%: Is Further Upside Left in the Stock?
RXO (RXO) shares rallied 8.5% in the last trading session to close at $29.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 35.1% gain over the past four weeks.
RXO shares have been performing well for quite some time, gaining in excess of 44% in a month's time. Last month RXO inked a deal with transportation heavyweight United Parcel Service (UPS - Free Report) to purchase Coyote Logistics from for more than $1 billion. The deal with UPS has led to the northward movement in RXO shares.RXO's recent deal with Shiplify to Improve invoice transparency for LTL customers is also a positive.
This transportation services provider is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -75%. Revenues are expected to be $949.34 million, down 1.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For RXO, the consensus EPS estimate for the quarter has been revised 7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RXO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
RXO belongs to the Zacks Transportation - Services industry. Another stock from the same industry, Global Business Travel Group, Inc. (GBTG), closed the last trading session 0.6% higher at $6.57. Over the past month, GBTG has returned 1.6%.
Global Business Travel Group, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +87%. Global Business Travel Group, Inc. currently boasts a Zacks Rank of #3 (Hold).