XPO Logistics, Inc. (NYSE:XPO – Get Rating) – Investment analysts at KeyCorp lifted their Q2 2022 earnings per share estimates for shares of XPO Logistics in a report issued on Tuesday, May 10th. KeyCorp analyst T. Fowler now forecasts that the transportation company will post earnings of $1.45 per share for the quarter, up from their prior estimate of $1.39. KeyCorp also issued estimates for XPO Logistics’ Q3 2022 earnings at $1.36 EPS, Q4 2022 earnings at $1.36 EPS and FY2022 earnings at $5.50 EPS.
Other analysts also recently issued research reports about the stock. Citigroup reduced their price objective on shares of XPO Logistics from $92.00 to $75.00 in a research report on Tuesday. Evercore ISI started coverage on shares of XPO Logistics in a research report on Friday, February 25th. They set an “outperform” rating and a $91.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of XPO Logistics from $112.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 9th. Stifel Nicolaus reduced their price objective on shares of XPO Logistics to $92.00 and set a “buy” rating for the company in a research report on Tuesday, March 29th. Finally, Barclays reduced their price objective on shares of XPO Logistics from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, January 14th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $94.86.
XPO Logistics (NYSE:XPO – Get Rating) last released its quarterly earnings results on Monday, May 9th. The transportation company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.32. XPO Logistics had a net margin of 4.68% and a return on equity of 36.79%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same quarter last year, the business earned $1.46 EPS. The company’s revenue was up 16.2% compared to the same quarter last year.
In other XPO Logistics news, major shareholder Jacobs Private Equity, Llc sold 5,447,500 shares of XPO Logistics stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $55.80, for a total transaction of $303,970,500.00. Following the transaction, the insider now directly owns 6,468,201 shares of the company’s stock, valued at approximately $360,925,615.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in XPO. Morgan Stanley raised its stake in XPO Logistics by 47.4% in the 2nd quarter. Morgan Stanley now owns 461,871 shares of the transportation company’s stock valued at $64,611,000 after acquiring an additional 148,521 shares during the period. Russell Investments Group Ltd. raised its stake in XPO Logistics by 41.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 130,067 shares of the transportation company’s stock valued at $10,366,000 after acquiring an additional 38,121 shares during the period. First Horizon Advisors Inc. bought a new stake in XPO Logistics in the 3rd quarter valued at about $89,000. BlackRock Inc. raised its stake in XPO Logistics by 1.0% in the 3rd quarter. BlackRock Inc. now owns 9,285,803 shares of the transportation company’s stock valued at $738,964,000 after acquiring an additional 88,777 shares during the period. Finally, CIBC Asset Management Inc raised its stake in XPO Logistics by 17.4% in the 3rd quarter. CIBC Asset Management Inc now owns 4,397 shares of the transportation company’s stock valued at $350,000 after acquiring an additional 653 shares during the period. Institutional investors own 99.18% of the company’s stock.
XPO Logistics Company Profile (Get Rating)
XPO Logistics, Inc provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and Brokerage and Other Services. The North American LTL segment provides customers with less-than-truckload (LTL) services, such as geographic density and day-definite regional, inter-regional, and transcontinental LTL freight services.
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