GXO Logistics (NYSE:GXO) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

GXO Logistics (NYSE:GXO) released its earnings results on Monday. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01, Briefing.com reports. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.01 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. 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 Trading Down 1.5 %

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Susquehanna cut their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. UBS Group decreased their price objective on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup initiated coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.