GXO Logistics (NYSE:GXO) Announces Earnings Results, Hits Estimates

GXO Logistics (NYSE:GXO) posted its quarterly earnings results 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 firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. GXO Logistics updated its FY24 guidance to $2.70-2.90 EPS.

GXO Logistics Trading Down 0.0 %

GXO Logistics stock traded down $0.01 during trading hours on Wednesday, reaching $51.17. The company had a trading volume of 700,833 shares, compared to its average volume of 857,196. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. GXO Logistics has a 12-month low of $48.11 and a 12-month high of $67.57. The company has a 50-day moving average price of $50.55 and a 200 day moving average price of $54.36. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.11 and a beta of 1.63.

Analyst Ratings Changes

Several research firms recently issued reports on GXO. BNP Paribas raised GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Wednesday, March 27th. Susquehanna raised their price objective on shares of GXO Logistics from $73.00 to $75.00 and gave the company a “positive” rating in a research report on Thursday, February 15th. Stifel Nicolaus upped their price objective on GXO Logistics from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. TD Cowen increased their price objective on GXO Logistics from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, GXO Logistics has an average rating of “Moderate Buy” and a consensus price target of $69.69.

Insider Activity

In related news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.