GXO Logistics (NYSE:GXO) Issues 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.

GXO Logistics Price Performance

GXO Logistics stock traded up $1.18 during midday trading on Thursday, reaching $50.28. 154,184 shares of the stock traded hands, compared to its average volume of 867,282. The stock has a market cap of $6.00 billion, a P/E ratio of 25.71, a PEG ratio of 2.11 and a beta of 1.64. The stock’s fifty day moving average is $51.18 and its 200-day moving average is $54.60. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. GXO Logistics has a 12 month low of $48.11 and a 12 month high of $67.57.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on GXO. Loop Capital decreased their price objective on GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Stifel Nicolaus raised their price target on GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. 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 research report on Wednesday, March 27th. TD Cowen raised their target price on shares of GXO Logistics from $78.00 to $80.00 and gave the stock a buy rating in a report on Thursday. Finally, Susquehanna upped their price target 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. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, GXO Logistics presently has a consensus rating of Moderate Buy and an average target price of $69.69.

Insiders Place Their Bets

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 shares were sold at an average price of $50.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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.