Oppenheimer Equities Analysts Increase Earnings Estimates for GXO Logistics, Inc. (NYSE:GXO)

Oppenheimer Equities Analysts Increase Earnings Estimates for GXO Logistics, Inc. (NYSE:GXO)

GXO Logistics, Inc. (NYSE:GXO – Get Rating) – Analysts at Oppenheimer increased their FY2022 EPS estimates for GXO Logistics in a research note issued to investors on Sunday, May 8th. Oppenheimer analyst S. Schneeberger now anticipates that the company will post earnings of $2.78 per share for the year, up from their prior forecast of $2.71. Oppenheimer also issued estimates for GXO Logistics’ Q4 2022 earnings at $0.84 EPS and FY2023 earnings at $3.20 EPS. GXO Logistics (NYSE:GXO – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. GXO Logistics had a net margin of 2.15% and a return on equity of 9.11%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the company earned $0.37 EPS. GXO Logistics’s revenue was up 14.3% on a year-over-year basis.

GXO has been the topic of a number of other research reports. Citigroup dropped their price objective on GXO Logistics from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 20th. Wells Fargo & Company upped their target price on GXO Logistics from $105.00 to $110.00 in a research report on Thursday, February 17th. Zacks Investment Research cut GXO Logistics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 15th. Stifel Nicolaus began coverage on GXO Logistics in a research report on Tuesday, March 1st. They set a “buy” rating and a $94.00 target price for the company. Finally, Morgan Stanley upped their target price on GXO Logistics from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $98.00.

NYSE GXO opened at $55.22 on Tuesday. The stock’s 50-day moving average price is $67.03 and its two-hundred day moving average price is $81.16. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.38. The company has a market cap of $6.34 billion and a PE ratio of 36.33. GXO Logistics has a 1 year low of $48.38 and a 1 year high of $105.92.

Several hedge funds have recently made changes to their positions in GXO. Quent Capital LLC purchased a new stake in shares of GXO Logistics in the fourth quarter valued at about $25,000. Prospera Financial Services Inc purchased a new stake in shares of GXO Logistics in the first quarter valued at about $31,000. Cohen & Steers Inc. purchased a new stake in shares of GXO Logistics in the third quarter valued at about $35,000. Point72 Hong Kong Ltd bought a new position in GXO Logistics during the fourth quarter valued at about $37,000. Finally, Rockefeller Capital Management L.P. bought a new position in GXO Logistics during the third quarter valued at about $38,000. Institutional investors own 91.32% of the company’s stock.

In related news, Director Gena L. Ashe sold 3,527 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $80.00, for a total transaction of $282,160.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director S Jacobs Bradley sold 5,447,500 shares of the company’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $57.24, for a total transaction of $311,814,900.00. Following the transaction, the director now owns 6,468,201 shares in the company, valued at approximately $370,239,825.24. The disclosure for this sale can be found here.

GXO Logistics Company Profile (Get Rating)

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.

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