GXO Logistics (NYSE:GXO – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.700-2.900 for the period, compared to the consensus estimate of 2.730. The company issued revenue guidance of -. GXO Logistics also updated its FY24 guidance to $2.73-$2.93 EPS.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Susquehanna upped their price objective on GXO Logistics from $73.00 to $75.00 and gave the company a positive rating in a report on Thursday, February 15th. Loop Capital cut their target price on GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a research report on Thursday, April 18th. BNP Paribas upgraded GXO Logistics from an underperform rating to a neutral rating and set a $50.00 target price for the company in a research report on Wednesday, March 27th. TD Cowen upped their target price on GXO Logistics from $70.00 to $78.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Finally, Citigroup dropped their price objective on GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a research 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. According to data from MarketBeat.com, GXO Logistics presently has an average rating of Moderate Buy and an average target price of $69.54.
Check Out Our Latest Stock Report on GXO Logistics
GXO Logistics Stock Performance
GXO Logistics (NYSE:GXO – Get Free Report) last posted 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 net margin of 2.34% and a return on equity of 10.94%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that GXO Logistics will post 2.78 earnings per share for the current fiscal year.
Insider Activity at GXO Logistics
In related 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 value of $236,850.00. Following the completion of the sale, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently 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.
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