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

GXO Logistics (NYSE:GXO) posted its quarterly earnings results on Monday. The company reported $0.79 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 during 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 revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the firm 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 Stock Up 2.1 %

GXO stock opened at $58.92 on Wednesday. GXO Logistics has a one year low of $46.07 and a one 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. The company has a fifty day moving average of $54.12 and a 200-day moving average of $51.79. The stock has a market capitalization of $7.04 billion, a PE ratio of 49.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55.

Analyst Ratings Changes

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