Radiant Logistics Inc (RLGT) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Radiant Logistics Inc (NASDAQ:RLGT) released its earnings results on Tuesday. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04, Briefing.com reports. Radiant Logistics had a return on equity of 1.28% and a net margin of 0.51%. The firm had revenue of $201.80 million during the quarter, compared to analysts’ expectations of $187.91 million. During the same period in the previous year, the firm posted $0.06 EPS. Radiant Logistics’s revenue for the quarter was up 10.6% on a year-over-year basis.
Radiant Logistics (NASDAQ RLGT) opened at 5.06 on Thursday. Radiant Logistics has a 52-week low of $2.45 and a 52-week high of $6.65. The firm has a market capitalization of $245.80 million and a PE ratio of 76.67. The stock’s 50 day moving average price is $4.78 and its 200 day moving average price is $5.37.
A number of large investors have recently added to or reduced their stakes in RLGT. Russell Investments Group Ltd. raised its position in Radiant Logistics by 2.6% in the second quarter. Russell Investments Group Ltd. now owns 122,292 shares of the company’s stock valued at $659,000 after purchasing an additional 3,105 shares during the period. Strs Ohio raised its position in Radiant Logistics by 173.1% in the second quarter. Strs Ohio now owns 118,000 shares of the company’s stock valued at $634,000 after purchasing an additional 74,800 shares during the period. Eagle Global Advisors LLC raised its position in Radiant Logistics by 180.0% in the second quarter. Eagle Global Advisors LLC now owns 56,330 shares of the company’s stock valued at $303,000 after purchasing an additional 36,210 shares during the period. Spark Investment Management LLC purchased a new position in Radiant Logistics in the second quarter valued at about $383,000. Finally, Rhumbline Advisers raised its position in Radiant Logistics by 18.8% in the second quarter. Rhumbline Advisers now owns 38,377 shares of the company’s stock valued at $206,000 after purchasing an additional 6,080 shares during the period.
Several research firms recently commented on RLGT. Zacks Investment Research cut Radiant Logistics from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating and set a $7.00 price objective on shares of Radiant Logistics in a research report on Thursday, September 7th.
Radiant Logistics Company Profile
Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.
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