GXO Logistics (NYSE:GXO) Updates FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.70-2.90 for the period, compared to the consensus earnings per share estimate of $2.71.

Wall Street Analyst Weigh In

GXO has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on GXO Logistics from $67.00 to $65.00 and set an overweight rating on the stock in a research note on Tuesday, April 9th. Susquehanna raised their price objective on shares of GXO Logistics from $73.00 to $75.00 and gave the company a positive rating in a research report on Thursday, February 15th. TD Cowen boosted their target price on shares of GXO Logistics from $78.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Citigroup cut their price target on shares of GXO Logistics from $66.00 to $64.00 and set a buy rating on the stock in a report on Thursday, February 15th. Finally, Loop Capital reduced their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $69.69.

GXO Logistics Stock Performance

Shares of NYSE GXO traded down $0.25 during trading hours on Tuesday, hitting $51.18. 1,173,122 shares of the company’s stock were exchanged, compared to its average volume of 859,583. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.11 and a beta of 1.63. The company’s 50-day moving average price is $50.58 and its 200-day moving average price is $54.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. GXO Logistics has a 1-year low of $48.11 and a 1-year high of $67.57.

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

Insider Transactions at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.