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

Financial News Live ·  Sep 27, 2022 10:51

Radiant Logistics (NYSEAMERICAN:RLGT – Get Rating) updated its fourth quarter 2022 earnings guidance on Tuesday. 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.

Wall Street Analysts Forecast Growth

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

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Radiant Logistics Stock Up 0.7 %

Shares of RLGT stock traded up $0.04 during trading hours on Tuesday, reaching $5.69. 1,170 shares of the company's stock were exchanged, compared to its average volume of 151,532. The stock's fifty day moving average price is $7.30 and its two-hundred day moving average price is $6.76. The stock has a market cap of $281.33 million, a PE ratio of 7.34 and a beta of 0.93. Radiant Logistics has a 1 year low of $5.47 and a 1 year high of $8.74. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60.

Institutional Trading of Radiant Logistics

Several large investors have recently added to or reduced their stakes in RLGT. Covestor Ltd purchased a new position in Radiant Logistics during the 1st quarter valued at about $36,000. Shay Capital LLC acquired a new stake in Radiant Logistics in the 1st quarter valued at about $64,000. Mackenzie Financial Corp acquired a new stake in Radiant Logistics in the 1st quarter valued at about $72,000. Occudo Quantitative Strategies LP acquired a new stake in Radiant Logistics in the 2nd quarter valued at about $97,000. Finally, PDT Partners LLC acquired a new stake in Radiant Logistics in the 1st quarter valued at about $85,000. 56.81% of the stock is currently owned by hedge funds and other institutional investors.

Radiant Logistics Company Profile

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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.

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