GXO Logistics (NYSE:GXO) Announces Earnings Results

by · The Markets Daily

GXO Logistics (NYSE:GXO – Get Free Report) announced its earnings results on Monday. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01, Briefing.com reports. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. 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 Down 1.2 %

GXO traded down $0.69 on Tuesday, hitting $57.91. The company had a trading volume of 404,237 shares, compared to its average volume of 922,705. The stock has a market capitalization of $6.92 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 quick ratio of 0.86 and a current ratio of 0.86. The stock has a fifty day moving average price of $54.12 and a 200-day moving average price of $51.79. GXO Logistics has a 12-month low of $46.07 and a 12-month high of $63.33.

Analyst Ratings Changes

Several brokerages have issued reports on GXO. UBS Group decreased their price objective 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. 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 reduced their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. 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 for the company. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.91.

View Our Latest Stock Report on GXO Logistics

GXO Logistics Company Profile

(Get Free Report)

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.

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