GXO Logistics (NYSE:GXO) Updates FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus boosted their target price on GXO Logistics from $69.00 to $75.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Susquehanna boosted their target price on GXO Logistics from $73.00 to $75.00 and gave the company a positive rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. decreased their target price on GXO Logistics from $67.00 to $65.00 and set an overweight rating for the company in a research note on Tuesday, April 9th. Loop Capital decreased their target price on GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a research note on Thursday, April 18th. Finally, TD Cowen upped their price objective on GXO Logistics from $70.00 to $78.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. One 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, the company has a consensus rating of Moderate Buy and an average target price of $69.54.

GXO Logistics Stock Down 2.1 %

NYSE GXO traded down $1.04 during trading hours on Wednesday, hitting $49.10. 1,003,060 shares of the company traded hands, compared to its average volume of 873,055. The business’s 50-day moving average is $51.29 and its 200-day moving average is $54.64. GXO Logistics has a twelve month low of $48.11 and a twelve month high of $67.57. 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 capitalization of $5.86 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.09 and a beta of 1.64.

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

Insider Activity at GXO Logistics

In other news, Director Gena L. Ashe sold 4,737 shares of the firm’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 of the company’s stock, valued at $1,042,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.