GXO Logistics (NYSE:GXO) Releases FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GXO shares. BNP Paribas upgraded shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price objective on the stock in a report on Wednesday, March 27th. Susquehanna lifted their price objective on shares of 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 shares of GXO Logistics from $78.00 to $80.00 and gave the company a buy rating in a report on Thursday. Stifel Nicolaus boosted their target price on shares of GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, 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 report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, GXO Logistics currently has a consensus rating of Moderate Buy and a consensus price target of $69.69.

GXO Logistics Trading Up 0.7 %

GXO traded up $0.35 during trading on Friday, reaching $50.89. 159,579 shares of the company’s stock were exchanged, compared to its average volume of 868,301. GXO Logistics has a one year low of $48.11 and a one year high of $67.57. 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 stock has a market capitalization of $6.08 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.06 and a beta of 1.64. The firm has a fifty day moving average price of $51.07 and a two-hundred day moving average price of $54.57.

GXO Logistics (NYSE:GXO) last posted 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 net margin of 2.34% and a return on equity of 10.94%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm posted $0.83 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that GXO Logistics will post 2.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total transaction of $236,850.00. Following the transaction, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.