GXO Logistics (NYSE:GXO) Announces Earnings Results, Beats Estimates By $0.01 EPS

GXO Logistics (NYSE:GXO) posted its quarterly earnings data on Monday. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01, Briefing.com reports. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.01 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. GXO Logistics updated its FY24 guidance to $2.73-2.93 EPS and its FY 2024 guidance to 2.730-2.930 EPS.

GXO Logistics Stock Performance

NYSE GXO traded down $0.86 during trading hours on Tuesday, reaching $57.74. The stock had a trading volume of 442,035 shares, compared to its average volume of 922,904. GXO Logistics has a 52-week low of $46.07 and a 52-week high of $63.33. The stock has a fifty day moving average of $54.12 and a 200 day moving average of $51.79. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $6.90 billion, a P/E ratio of 50.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55.

Analyst Ratings Changes

A number of research firms have recently weighed in on GXO. JPMorgan Chase & Co. upped their price objective on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Citigroup assumed coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective for the company. Susquehanna reduced their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, UBS Group dropped their target price on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus price target of $66.91.

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.