GXO Logistics (NYSE:GXO) Issues Earnings Results

GXO Logistics (NYSE:GXO) issued its quarterly earnings results on Tuesday. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate 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 net margin of 2.34% and a return on equity of 10.94%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. GXO Logistics updated its FY24 guidance to $2.70-2.90 EPS.

GXO Logistics Stock Down 0.2 %

Shares of NYSE GXO traded down $0.08 during trading on Wednesday, hitting $51.10. The stock had a trading volume of 653,349 shares, compared to its average volume of 856,816. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a fifty day moving average of $50.55 and a two-hundred day moving average of $54.36. GXO Logistics has a 12 month low of $48.11 and a 12 month high of $67.57. The company has a market capitalization of $6.10 billion, a PE ratio of 26.98, a PEG 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 that occurred 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 completion of the transaction, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GXO has been the topic of several analyst reports. Citigroup dropped their price target on shares of GXO Logistics from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Stifel Nicolaus upped their target price on GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. TD Cowen lifted their price target on GXO Logistics from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. 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, BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a report on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, GXO Logistics currently has a consensus 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.