GXO Logistics (NYSE:GXO) Issues FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.73-$2.93 for the period, compared to the consensus EPS estimate of $2.71. GXO Logistics also updated its FY 2024 guidance to 2.700-2.900 EPS.

GXO Logistics Trading Down 0.0 %

NYSE:GXO opened at $50.52 on Friday. 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 $6.03 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.13 and a beta of 1.64. The firm has a fifty day simple moving average of $50.97 and a two-hundred day simple moving average of $54.54. GXO Logistics has a 12 month low of $48.11 and a 12 month high of $67.57.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GXO shares. Loop Capital reduced their price objective 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. Citigroup reduced their price objective 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. Stifel Nicolaus lifted their price objective 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. BNP Paribas upgraded shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price objective for the company in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $69.69.

Insider Activity at GXO Logistics

In related news, Director Gena L. Ashe sold 4,737 shares of the firm’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 transaction, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.