GXO Logistics (NYSE:GXO) Announces Quarterly Earnings Results

GXO Logistics (NYSE:GXO) posted its 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 for the quarter, compared to analyst estimates of $2.38 billion. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. GXO Logistics updated its FY24 guidance to $2.70-2.90 EPS.

GXO Logistics Price Performance

NYSE:GXO traded down $0.01 during trading hours on Wednesday, reaching $51.17. 700,833 shares of the company were exchanged, compared to its average volume of 857,196. The company has a market capitalization of $6.11 billion, a P/E ratio of 26.98, a P/E/G 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. The business has a 50 day moving average of $50.55 and a 200 day moving average of $54.36. GXO Logistics has a 1-year low of $48.11 and a 1-year high of $67.57.

Insider Activity

In related news, Director Gena L. Ashe sold 4,737 shares of the firm’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 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 the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GXO shares. Stifel Nicolaus upped their price target on shares of GXO Logistics from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Citigroup reduced their price target on GXO Logistics from $66.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 15th. JPMorgan Chase & Co. cut their price objective on GXO Logistics from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. 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 report on Thursday, April 18th. Finally, BNP Paribas raised shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research 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 stock. According to data from MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average price target 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.