GXO Logistics (NYSE:GXO) Issues 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 (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.

GXO Logistics Stock Up 0.0 %

GXO traded up $0.01 during trading hours on Wednesday, hitting $50.15. 22,727 shares of the company’s stock were exchanged, compared to its average volume of 863,875. GXO Logistics has a 12-month low of $48.11 and a 12-month high of $67.57. The firm has a 50 day moving average of $51.29 and a 200 day moving average of $54.64. The firm has a market cap of $5.99 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.09 and a beta of 1.64. 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 posted its quarterly 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 company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the business posted $0.83 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. Analysts predict that GXO Logistics will post 2.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of GXO Logistics from $67.00 to $65.00 and set an overweight rating for the company in a report on Tuesday, April 9th. Citigroup lowered their target price on shares of GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a report on Thursday, February 15th. Loop Capital lowered their target price on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a report on Thursday, April 18th. TD Cowen upped their target price on shares of GXO Logistics from $70.00 to $78.00 and gave the company an outperform rating in a report on Thursday, February 15th. Finally, Stifel Nicolaus upped their target price on shares of GXO Logistics from $69.00 to $75.00 and gave the company a buy rating in a report on Wednesday, January 10th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $69.54.

Insiders Place Their Bets

In other news, Director Gena L. Ashe sold 4,737 shares of the stock in a transaction dated 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 transaction, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by 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.