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

GXO Logistics (NYSE:GXO) issued its quarterly earnings results on Monday. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01, Briefing.com reports. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The company’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 Price Performance

Shares of GXO opened at $57.69 on Wednesday. The company has a 50 day moving average of $54.12 and a two-hundred day moving average of $51.79. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. GXO Logistics has a twelve month low of $46.07 and a twelve month high of $63.33.

Wall Street Analyst Weigh In

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