$188.67 Million in Sales Expected for Radiant Logistics Inc (RLGT) This Quarter
Equities analysts predict that Radiant Logistics Inc (NASDAQ:RLGT) will report $188.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Radiant Logistics’ earnings. The highest sales estimate is $191.93 million and the lowest is $185.41 million. Radiant Logistics reported sales of $183.62 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The business is expected to announce its next quarterly earnings results on Tuesday, September 12th.
On average, analysts expect that Radiant Logistics will report full year sales of $188.67 million for the current year, with estimates ranging from $761.19 million to $767.71 million. For the next fiscal year, analysts forecast that the business will report sales of $811.38 million per share, with estimates ranging from $793.48 million to $829.29 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Radiant Logistics.
Separately, Zacks Investment Research downgraded shares of Radiant Logistics from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd.
Shares of Radiant Logistics (NASDAQ:RLGT) opened at 4.99 on Friday. Radiant Logistics has a 1-year low of $2.45 and a 1-year high of $6.65. The firm has a market cap of $242.40 million and a price-to-earnings ratio of 75.61. The company’s 50-day moving average is $4.79 and its 200 day moving average is $5.38.
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A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Radiant Logistics by 18.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,399,277 shares of the company’s stock valued at $7,528,000 after purchasing an additional 214,528 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Radiant Logistics by 43.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,288,236 shares of the company’s stock valued at $6,931,000 after purchasing an additional 389,620 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Radiant Logistics by 129.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 802,855 shares of the company’s stock valued at $4,319,000 after purchasing an additional 453,611 shares during the last quarter. State Street Corp lifted its holdings in Radiant Logistics by 11.1% during the 2nd quarter. State Street Corp now owns 588,753 shares of the company’s stock valued at $3,167,000 after purchasing an additional 59,023 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Radiant Logistics by 9.4% during the 2nd quarter. Northern Trust Corp now owns 420,435 shares of the company’s stock valued at $2,262,000 after purchasing an additional 36,280 shares during the last quarter.
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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