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 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.

GXO Logistics Stock Performance

Shares of GXO traded down $0.03 on Friday, reaching $50.51. 605,695 shares of the stock traded hands, compared to its average volume of 800,425. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.13 and a beta of 1.64. 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 12 month low of $48.11 and a 12 month high of $67.57. The stock’s 50-day moving average price is $50.97 and its 200-day moving average price is $54.54.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. GXO Logistics’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 EPS. Equities analysts forecast that GXO Logistics will post 2.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BNP Paribas upgraded GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price objective for the company in a report on Wednesday, March 27th. Citigroup dropped their price objective on GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a report on Thursday, February 15th. TD Cowen upped their price objective on GXO Logistics from $78.00 to $80.00 and gave the company a buy rating in a report on Thursday. Stifel Nicolaus upped their price objective on GXO Logistics from $69.00 to $75.00 and gave the company a buy rating in a report on Wednesday, January 10th. Finally, Susquehanna increased their price target on GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, GXO Logistics has an average rating of Moderate Buy and an average price target of $69.69.

Insiders Place Their Bets

In other news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, 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 SEC, which is available at the SEC website. Company 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.