GXO Logistics (NYSE:GXO) Updates 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 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 Upgrades and Downgrades

A number of research firms have weighed in on GXO. Citigroup decreased their price target on GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a research note on Thursday, February 15th. TD Cowen raised their price target on GXO Logistics from $70.00 to $78.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Stifel Nicolaus lifted their target price on GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. Susquehanna lifted their target price on GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a research note on Thursday, February 15th. Finally, Loop Capital reduced 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. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, GXO Logistics currently has an average rating of Moderate Buy and an average target price of $69.54.

GXO Logistics Stock Performance

GXO traded down $1.04 during trading on Wednesday, hitting $49.10. The stock had a trading volume of 1,047,829 shares, compared to its average volume of 876,816. The company has a 50 day moving average price of $51.18 and a 200-day moving average price of $54.60. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 2.09 and a beta of 1.64. GXO Logistics has a one year low of $48.11 and a one year high of $67.57. 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 announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm 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 company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. As a group, research analysts predict that GXO Logistics will post 2.78 EPS for the current year.

Insider Buying and Selling at GXO Logistics

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.