GXO Logistics (NYSE:GXO) Updates FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen increased their price objective on GXO Logistics from $70.00 to $78.00 and gave the stock an outperform rating in a report on Thursday, February 15th. JPMorgan Chase & Co. cut their target price on GXO Logistics from $67.00 to $65.00 and set an overweight rating on the stock in a research note on Tuesday, April 9th. Stifel Nicolaus lifted their price objective on GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Loop Capital cut their price objective on GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a report on Thursday, April 18th. Finally, Citigroup dropped their target price on GXO Logistics from $66.00 to $64.00 and set a buy rating on the stock in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, GXO Logistics currently has a consensus rating of Moderate Buy and an average price target of $69.54.

GXO Logistics Stock Up 0.9 %

Shares of GXO opened at $50.16 on Wednesday. The business’s 50 day moving average is $51.29 and its 200 day moving average is $54.64. The company has a market capitalization of $5.99 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.09 and a beta of 1.64. GXO Logistics has a 12-month low of $48.11 and a 12-month high of $67.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Research analysts expect that GXO Logistics will post 2.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gena L. Ashe sold 4,737 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the transaction, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.