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

GXO Logistics (NYSE:GXO) released its earnings results on Monday. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01, Briefing.com reports. GXO Logistics had a net margin of 0.97% and a return on equity of 10.21%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. 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 Up 6.5 %

GXO stock opened at $61.44 on Thursday. GXO Logistics has a 52 week low of $46.07 and a 52 week high of $63.33. The company has a market capitalization of $7.34 billion, a PE ratio of 68.27, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55. The company’s 50-day simple moving average is $54.53 and its 200 day simple moving average is $51.91. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86.

Analysts Set New Price Targets

Several analysts recently issued reports on GXO shares. Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price on the stock. UBS Group upped their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen lifted their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Susquehanna dropped their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.