Radiant Logistics Inc (RLGT) Announces Earnings Results, Beats Estimates By $0.04 EPS

Radiant Logistics Inc (NASDAQ:RLGT) issued its quarterly earnings results on Tuesday. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04, Briefing.com reports. The firm had revenue of $201.80 million during the quarter, compared to the consensus estimate of $187.91 million. Radiant Logistics had a return on equity of 1.28% and a net margin of 0.51%. Radiant Logistics’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share.

Shares of Radiant Logistics (RLGT) traded down 7.89% during mid-day trading on Wednesday, reaching $5.02. The company’s stock had a trading volume of 301,723 shares. The stock has a market capitalization of $243.86 million and a P/E ratio of 76.06. Radiant Logistics has a 12 month low of $2.45 and a 12 month high of $6.65. The company has a 50 day moving average price of $4.78 and a 200 day moving average price of $5.38.

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A number of hedge funds have recently added to or reduced their stakes in RLGT. Voya Investment Management LLC grew its position in Radiant Logistics by 15.3% during the second quarter. Voya Investment Management LLC now owns 27,418 shares of the company’s stock worth $148,000 after buying an additional 3,640 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Radiant Logistics during the second quarter worth about $153,000. The Manufacturers Life Insurance Company grew its position in Radiant Logistics by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 31,970 shares of the company’s stock worth $172,000 after buying an additional 489 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in Radiant Logistics during the second quarter worth about $178,000. Finally, Hancock Holding Co. acquired a new stake in Radiant Logistics during the second quarter worth about $181,000.

Several analysts have issued reports on RLGT shares. Cowen and Company restated a “buy” rating and set a $7.00 price objective on shares of Radiant Logistics in a research note on Thursday, September 7th. Zacks Investment Research cut Radiant Logistics from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd.

About Radiant Logistics

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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