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Radiant Logistics (NYSEAMERICAN:RLGT) Updates Q4 2022 Earnings Guidance

Financial News Live ·  Sep 22, 2022 10:41

Radiant Logistics (NYSEAMERICAN:RLGT – Get Rating) issued an update on its fourth quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.40-$0.40 for the period, compared to the consensus earnings per share estimate of $0.16. The company issued revenue guidance of $398.61 million-$398.61 million, compared to the consensus revenue estimate of $362.76 million.

Radiant Logistics Stock Down 2.0 %

Shares of Radiant Logistics stock traded down $0.12 during trading on Thursday, hitting $5.96. 8,232 shares of the stock were exchanged, compared to its average volume of 150,270. The stock has a market cap of $294.68 million, a price-to-earnings ratio of 7.90 and a beta of 0.93. The firm's 50-day moving average price is $7.30 and its 200 day moving average price is $6.76. Radiant Logistics has a 12-month low of $5.66 and a 12-month high of $8.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61.

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Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Radiant Logistics from a buy rating to a hold rating in a report on Friday, September 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLGT. Covestor Ltd acquired a new stake in shares of Radiant Logistics in the first quarter valued at approximately $36,000. Shay Capital LLC acquired a new stake in shares of Radiant Logistics in the first quarter valued at approximately $64,000. Mackenzie Financial Corp purchased a new position in shares of Radiant Logistics during the first quarter valued at approximately $72,000. PDT Partners LLC purchased a new position in shares of Radiant Logistics during the first quarter valued at approximately $85,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Radiant Logistics during the second quarter valued at approximately $97,000. 56.81% of the stock is currently owned by institutional investors and hedge funds.

About Radiant Logistics

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Radiant Logistics, Inc, a third-party logistics company, provides multi-modal transportation and logistics services primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.

Further Reading

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