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

GXO Logistics (NYSE:GXO) posted its quarterly earnings data on Monday. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01, Briefing.com reports. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business 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 Up 6.5 %

Shares of NYSE:GXO traded up $3.74 on Wednesday, hitting $61.44. 1,699,042 shares of the company’s stock were exchanged, compared to its average volume of 931,801. The firm’s 50-day moving average is $54.28 and its 200 day moving average is $51.85. The company has a market capitalization of $7.34 billion, a PE ratio of 52.13, a P/E/G ratio of 1.75 and a beta of 1.55. GXO Logistics has a 1-year low of $46.07 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GXO shares. JPMorgan Chase & Co. boosted their price objective on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Susquehanna cut their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. TD Cowen upped their price target on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group upped their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.55.

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.