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

Several brokerages recently issued reports on GXO. Loop Capital cut their price target on GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a report on Thursday, April 18th. Susquehanna raised their price objective on shares of GXO Logistics from $73.00 to $75.00 and gave the company a positive rating in a research note on Thursday, February 15th. Citigroup dropped their price target on shares of GXO Logistics from $66.00 to $64.00 and set a buy rating on the stock in a research report on Thursday, February 15th. BNP Paribas upgraded GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price objective for the company in a research report on Wednesday, March 27th. Finally, TD Cowen raised their target price on shares of GXO Logistics from $78.00 to $80.00 and gave the stock a buy rating in a report on Thursday. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $69.69.

GXO Logistics Stock Performance

Shares of GXO Logistics stock traded up $1.18 during trading on Thursday, hitting $50.28. 154,184 shares of the stock were exchanged, compared to its average volume of 867,282. GXO Logistics has a 1-year low of $48.11 and a 1-year 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. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.11 and a beta of 1.64. The company has a fifty day moving average price of $51.18 and a 200-day moving average price of $54.60.

GXO Logistics (NYSE:GXO) last issued 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. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, equities analysts predict that GXO Logistics will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the sale, the director now owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is 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.