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

GXO Logistics (NYSE:GXO) issued its earnings results on Tuesday. The company reported $0.45 earnings per share 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 analyst estimates of $2.38 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. GXO Logistics’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 Up 3.5 %

NYSE GXO traded up $1.78 on Thursday, hitting $52.71. The company’s stock had a trading volume of 334,576 shares, compared to its average volume of 855,887. The firm has a market cap of $6.29 billion, a P/E ratio of 26.68, a PEG ratio of 2.11 and a beta of 1.63. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $50.55 and its 200 day simple moving average is $54.33. GXO Logistics has a 52-week low of $48.11 and a 52-week high of $67.57.

Insider Activity

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the transaction, the director now 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 can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of 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 price target on GXO Logistics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Citigroup reduced their target price on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. JPMorgan Chase & Co. cut their target price on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Finally, TD Cowen upped their price objective on shares of GXO Logistics from $78.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.69.

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.