KeyCorp Equities Analysts Decrease Earnings Estimates for GXO Logistics, Inc. (NYSE:GXO)

GXO Logistics, Inc. (NYSE:GXOGet Rating) – Analysts at KeyCorp decreased their FY2022 earnings per share (EPS) estimates for GXO Logistics in a report issued on Wednesday, November 9th. KeyCorp analyst T. Fowler now expects that the company will post earnings of $2.75 per share for the year, down from their previous estimate of $2.80. The consensus estimate for GXO Logistics’ current full-year earnings is $2.78 per share. KeyCorp also issued estimates for GXO Logistics’ Q4 2022 earnings at $0.73 EPS.

A number of other research firms have also recently issued reports on GXO. Credit Suisse Group reduced their target price on shares of GXO Logistics from $56.00 to $48.00 in a research note on Tuesday, October 11th. Wells Fargo & Company cut their target price on GXO Logistics from $78.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays dropped their price target on shares of GXO Logistics from $52.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 13th. Citigroup decreased their price objective on shares of GXO Logistics from $61.00 to $52.00 and set a “buy” rating for the company in a report on Friday, October 7th. Finally, Oppenheimer dropped their target price on shares of GXO Logistics from $91.00 to $78.00 in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.50.

GXO Logistics Trading Up 6.1 %

Shares of NYSE:GXO opened at $44.94 on Friday. The firm has a fifty day moving average of $38.15 and a two-hundred day moving average of $45.43. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.70. GXO Logistics has a 12-month low of $32.10 and a 12-month high of $105.92. The firm has a market capitalization of $5.33 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 1.09 and a beta of 1.30.

Hedge Funds Weigh In On GXO Logistics

A number of hedge funds and other institutional investors have recently made changes to their positions in GXO. Scotia Capital Inc. grew its stake in shares of GXO Logistics by 64.8% during the first quarter. Scotia Capital Inc. now owns 3,798 shares of the company’s stock valued at $271,000 after purchasing an additional 1,493 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of GXO Logistics by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 35,669 shares of the company’s stock worth $2,545,000 after acquiring an additional 568 shares during the last quarter. Securian Asset Management Inc. raised its position in shares of GXO Logistics by 4.9% during the second quarter. Securian Asset Management Inc. now owns 9,276 shares of the company’s stock worth $401,000 after acquiring an additional 436 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of GXO Logistics by 17.0% during the second quarter. Maryland State Retirement & Pension System now owns 8,129 shares of the company’s stock valued at $352,000 after acquiring an additional 1,181 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in GXO Logistics in the second quarter valued at about $8,036,000. 83.54% of the stock is owned by institutional investors.

GXO Logistics Company Profile

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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.

See Also

Earnings History and Estimates for GXO Logistics (NYSE:GXO)

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