GXO Logistics (NYSE:GXO) Updates FY 2024 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.700-2.900 for the period, compared to the consensus estimate of 2.730. The company issued revenue guidance of -. GXO Logistics also updated its FY24 guidance to $2.73-$2.93 EPS.

GXO Logistics Stock Down 0.1 %

Shares of NYSE:GXO traded down $0.03 during midday trading on Friday, hitting $50.51. 605,695 shares of the company’s stock were exchanged, compared to its average volume of 800,425. GXO Logistics has a 12 month low of $48.11 and a 12 month high of $67.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50 day moving average price of $50.97 and a 200-day moving average price of $54.54. The company has a market cap of $6.03 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.13 and a beta of 1.64.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on GXO shares. TD Cowen increased their target price on shares of GXO Logistics from $78.00 to $80.00 and gave the stock a buy rating in a research note on Thursday. BNP Paribas upgraded shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 target price on the stock in a research note on Wednesday, March 27th. Loop Capital lowered their target price on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Stifel Nicolaus increased their target price on shares of GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an overweight rating on the stock in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $69.69.

Insiders Place Their Bets

In related news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the transaction, the director now directly owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

About GXO Logistics

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.