GXO Logistics (NYSE:GXO) Releases Earnings Results, Hits Expectations

GXO Logistics (NYSE:GXO) posted its quarterly earnings data on Tuesday. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45, Briefing.com reports. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. GXO Logistics updated its FY24 guidance to $2.70-2.90 EPS.

GXO Logistics Stock Down 0.2 %

Shares of NYSE:GXO traded down $0.10 on Wednesday, reaching $51.08. The company had a trading volume of 530,403 shares, compared to its average volume of 855,685. GXO Logistics has a twelve month low of $48.11 and a twelve month high of $67.57. The stock has a 50-day moving average price of $50.55 and a 200 day moving average price of $54.36. The stock has a market capitalization of $6.10 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.11 and a beta of 1.63. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55.

Wall Street Analyst Weigh In

GXO has been the topic of a number of research reports. Citigroup dropped their price objective on GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Stifel Nicolaus lifted their target price on GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Loop Capital decreased their target price on GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. JPMorgan Chase & Co. decreased their target price on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Finally, TD Cowen lifted their target price on GXO Logistics from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, GXO Logistics currently has an average rating of “Moderate Buy” and a consensus target price of $69.69.

Insiders Place Their Bets

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the completion of the sale, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

About GXO Logistics

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.