XPO Logistics (NYSE:XPO) Announces Quarterly Earnings Results

Posted by Clark Linder on Aug 5th, 2022

XPO Logistics (NYSE:XPO – Get Rating) announced its earnings results on Thursday. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.32, Briefing.com reports. XPO Logistics had a net margin of 4.68% and a return on equity of 36.79%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the business posted $1.86 earnings per share. XPO Logistics’s revenue for the quarter was up 1.3% on a year-over-year basis. XPO Logistics updated its FY 2022 guidance to $5.55-$5.90 EPS and its FY22 guidance to $5.55-$5.90 EPS.

XPO Logistics Stock Down 2.3 %

Shares of NYSE:XPO traded down $1.39 during midday trading on Friday, reaching $59.86. The company’s stock had a trading volume of 2,149,543 shares, compared to its average volume of 1,584,671. The firm has a 50 day moving average of $51.45 and a 200-day moving average of $59.46. The firm has a market capitalization of $6.88 billion, a P/E ratio of 9.72, a PEG ratio of 0.87 and a beta of 2.06. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.80. XPO Logistics has a 12-month low of $45.09 and a 12-month high of $90.78.

Analysts Set New Price Targets

Several equities research analysts have issued reports on XPO shares. Raymond James dropped their target price on shares of XPO Logistics from $90.00 to $70.00 in a research report on Friday, July 15th. Evercore ISI lowered their price objective on shares of XPO Logistics from $83.00 to $67.00 in a report on Tuesday, July 12th. StockNews.com upgraded shares of XPO Logistics from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. KeyCorp lowered their price objective on shares of XPO Logistics from $95.00 to $75.00 in a report on Wednesday, May 11th. Finally, Barclays decreased their target price on shares of XPO Logistics from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, June 27th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.55.

Insider Transactions at XPO Logistics

In other news, CEO S Jacobs Bradley sold 50,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $53.49, for a total value of $2,674,500.00. Following the sale, the chief executive officer now directly owns 6,361,730 shares of the company’s stock, valued at approximately $340,288,937.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.20% of the company’s stock.

Institutional Trading of XPO Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of XPO. Salem Investment Counselors Inc. bought a new position in XPO Logistics in the 1st quarter worth about $60,000. Covestor Ltd boosted its stake in XPO Logistics by 535.3% in the 1st quarter. Covestor Ltd now owns 1,423 shares of the transportation company’s stock worth $104,000 after purchasing an additional 1,199 shares in the last quarter. Fairfield Bush & CO. bought a new position in XPO Logistics in the 1st quarter worth about $147,000. Private Advisor Group LLC bought a new position in XPO Logistics in the 1st quarter worth about $242,000. Finally, Cibc World Market Inc. bought a new position in XPO Logistics in the 1st quarter worth about $269,000. 99.18% of the stock is owned by hedge funds and other institutional investors.

About XPO Logistics

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XPO Logistics, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and Brokerage and Other Services. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite regional, inter-regional, and transcontinental LTL freight services.