GXO Logistics (NYSE:GXO) Issues Quarterly Earnings Results

Key Points

• GXO Logistics reported earnings of $0.57 per share for the quarter, exceeding analysts' expectations by $0.04.
• The company's stock saw a 1.1% increase, trading at $48.98, amidst strong trading volume.
• Major institutional investors, including Geneos Wealth Management, have significantly increased their stakes in GXO Logistics, indicating strong institutional support.

GXO Logistics (NYSE:GXO - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01, Zacks reports. GXO Logistics had a return on equity of 10.41% and a net margin of 0.50%. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned $0.55 EPS. GXO Logistics's revenue for the quarter was up 15.9% on a year-over-year basis.

GXO Logistics Stock Up 2.4%

GXO stock traded up $1.23 during trading hours on Thursday, reaching $51.72. 1,023,633 shares of the stock were exchanged, compared to its average volume of 1,458,907. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 97.72, a PEG ratio of 1.79 and a beta of 1.64. The firm's 50-day moving average is $47.76 and its 200-day moving average is $42.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.78. GXO Logistics has a 12 month low of $30.46 and a 12 month high of $63.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial raised GXO Logistics from a "hold" rating to a "buy" rating and increased their price objective for the company from $48.00 to $62.00 in a report on Friday, July 11th. Citigroup raised their price objective on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Susquehanna lifted their price target on GXO Logistics from $58.00 to $60.00 and gave the stock a "positive" rating in a research note on Thursday. UBS Group boosted their target price on GXO Logistics from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of GXO Logistics from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $58.86.

Institutional Trading of GXO Logistics

Several institutional investors have recently modified their holdings of GXO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in GXO Logistics by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 377,211 shares of the company's stock valued at $14,741,000 after purchasing an additional 8,670 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of GXO Logistics by 29.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,867 shares of the company's stock valued at $1,568,000 after purchasing an additional 9,134 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in GXO Logistics by 4,775.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,999 shares of the company's stock valued at $78,000 after buying an additional 1,958 shares during the last quarter. Institutional investors own 90.67% of the company's stock.

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.