GXO Logistics (NYSE:GXO) Releases Quarterly Earnings Results

GXO Logistics (NYSE:GXO - Get Free Report) issued 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 firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The company's revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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 Price Performance

GXO stock traded down $0.90 during midday trading on Tuesday, hitting $57.70. 1,520,403 shares of the stock were exchanged, compared to its average volume of 928,139. The stock's 50-day moving average price is $54.12 and its 200-day moving average price is $51.79. 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 market cap of $6.89 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 1.75 and a beta of 1.55. GXO Logistics has a fifty-two week low of $46.07 and a fifty-two week high of $63.33.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup started coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They issued a "buy" rating and a $60.00 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, July 9th. 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. Finally, Susquehanna cut their target price on 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 analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.91.

About GXO Logistics

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.