GXO Logistics (NYSE:GXO) Releases FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.73-$2.93 for the period, compared to the consensus estimate of $2.71. GXO Logistics also updated its FY 2024 guidance to 2.700-2.900 EPS.

GXO Logistics Trading Up 0.7 %

GXO traded up $0.35 during mid-day trading on Friday, hitting $50.89. 159,579 shares of the stock were exchanged, compared to its average volume of 868,301. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55. The company has a market cap of $6.08 billion, a PE ratio of 26.45, a PEG ratio of 2.06 and a beta of 1.64. The firm’s fifty day moving average is $51.07 and its two-hundred day moving average is $54.57. GXO Logistics has a 1-year low of $48.11 and a 1-year high of $67.57.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts forecast that GXO Logistics will post 2.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GXO has been the subject of several recent analyst reports. Susquehanna raised their price target on GXO Logistics from $73.00 to $75.00 and gave the company a positive rating in a report on Thursday, February 15th. TD Cowen lifted their price objective on GXO Logistics from $78.00 to $80.00 and gave the stock a buy rating in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on GXO Logistics from $67.00 to $65.00 and set an overweight rating for the company in a report on Tuesday, April 9th. Citigroup reduced their price objective on GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a report on Thursday, February 15th. Finally, Stifel Nicolaus lifted their price objective on GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $69.69.

Insider Activity

In other news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the completion of the sale, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% 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.