GXO Logistics (NYSE:GXO) Updates FY 2024 Earnings Guidance

GXO Logistics (NYSE:GXO) updated its FY 2024 earnings guidance on Wednesday. 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.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an overweight rating for the company in a research report on Tuesday, April 9th. Citigroup dropped their price target on shares of GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a research report on Thursday, February 15th. TD Cowen lifted their price target on shares of GXO Logistics from $78.00 to $80.00 and gave the company a buy rating in a research report on Thursday. 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 research report on Wednesday, March 27th. Finally, Susquehanna lifted their price target on shares of GXO Logistics from $73.00 to $75.00 and gave the company a positive 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’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $69.69.

GXO Logistics Price Performance

GXO traded up $0.36 during trading on Friday, hitting $50.90. 243,396 shares of the stock traded hands, compared to its average volume of 869,145. The business has a 50 day moving average price of $51.07 and a 200 day moving average price of $54.57. GXO Logistics has a twelve month low of $48.11 and a twelve month high of $67.57. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.06 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 (NYSE:GXO) last posted its earnings results on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, topping 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 business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the company earned $0.83 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that GXO Logistics will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gena L. Ashe sold 4,737 shares of the firm’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 directly owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

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.