GXO Logistics (NYSE:GXO) Announces Quarterly Earnings Results, Meets Estimates

GXO Logistics (NYSE:GXO) issued its quarterly earnings results on Tuesday. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45, Briefing.com reports. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the business earned $0.49 earnings per share. GXO Logistics’s revenue for the quarter 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 Trading Down 0.2 %

Shares of GXO Logistics stock opened at $53.05 on Friday. The firm has a market capitalization of $6.34 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.63. 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 52-week low of $48.11 and a 52-week high of $67.57. The company’s fifty day moving average price is $50.57 and its two-hundred day moving average price is $54.33.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GXO shares. Citigroup cut their price objective on GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. BNP Paribas upgraded GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Wednesday, March 27th. TD Cowen lifted their price target on GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday. Loop Capital reduced their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus target price of $69.85.

Insider Activity

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the sale, the director now directly owns 20,851 shares in the company, valued at $1,042,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.