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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Loop Capital dropped their price target 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. JPMorgan Chase & Co. dropped their target price on shares of GXO Logistics from $67.00 to $65.00 and set an overweight rating on the stock in a report on Tuesday, April 9th. BNP Paribas upgraded shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price target for the company in a report on Wednesday, March 27th. Stifel Nicolaus increased their price objective on shares of GXO Logistics from $69.00 to $75.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Finally, Citigroup reduced their price objective on shares of GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, GXO Logistics currently has an average rating of Moderate Buy and a consensus price target of $69.69.

GXO Logistics Stock Performance

NYSE GXO traded up $0.36 during trading hours on Friday, reaching $50.90. The stock had a trading volume of 243,396 shares, compared to its average volume of 869,145. GXO Logistics has a 52-week low of $48.11 and a 52-week high of $67.57. The stock has a fifty day moving average of $51.07 and a 200 day moving average of $54.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $6.08 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.06 and a beta of 1.64.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results 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. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the business earned $0.83 earnings per share. GXO Logistics’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts predict that GXO Logistics will post 2.78 earnings per share for the current year.

Insider Buying and Selling at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction that occurred 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 directly owns 20,851 shares in the company, valued at $1,042,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

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.