GXO Logistics (NYSE:GXO) Issues Earnings Results

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

GXO Logistics Stock Performance

Shares of NYSE GXO traded down $0.10 during midday trading on Wednesday, hitting $51.08. The company’s stock had a trading volume of 530,403 shares, compared to its average volume of 855,685. The stock has a fifty day moving average price of $50.55 and a 200 day moving average price of $54.36. GXO Logistics has a one year low of $48.11 and a one year high of $67.57. 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 firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.11 and a beta of 1.63.

Insider Buying and Selling

In other news, Director Gena L. Ashe sold 4,737 shares of the company’s 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 completion of the sale, the director now owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. TD Cowen upped their price target on shares of GXO Logistics from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. BNP Paribas raised shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Finally, Citigroup dropped their price target 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. One 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 has an average rating of “Moderate Buy” and an average target price of $69.69.

GXO Logistics Company Profile

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.