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

GXO Logistics (NYSE:GXO) announced its earnings results on Monday. The company reported $0.79 earnings per share (EPS) for the quarter, beating 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 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 was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm 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 Price Performance

Shares of GXO traded up $3.74 during mid-day trading on Wednesday, hitting $61.44. The company’s stock had a trading volume of 1,699,042 shares, compared to its average volume of 931,801. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The firm has a 50-day simple moving average of $54.28 and a 200 day simple moving average of $51.85. The firm has a market capitalization of $7.34 billion, a P/E 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GXO. JPMorgan Chase & Co. upped their target price on GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. TD Cowen lifted their target price on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup initiated coverage on GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price on the stock. Susquehanna lowered 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, UBS Group lifted their target price on GXO Logistics from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.