GXO Logistics (NYSE:GXO) Releases FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.70-2.90 for the period, compared to the consensus earnings per share estimate of $2.71.

Analysts Set New Price Targets

A number of research analysts have issued reports on GXO shares. Citigroup cut their price objective on GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a report on Thursday, February 15th. BNP Paribas upgraded shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price target on the stock in a research report on Wednesday, March 27th. Susquehanna raised their price objective on shares of GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a report on Thursday, February 15th. JPMorgan Chase & Co. reduced their target price on GXO Logistics from $67.00 to $65.00 and set an overweight rating on the stock in a report on Tuesday, April 9th. Finally, Stifel Nicolaus raised their price target on GXO Logistics from $69.00 to $75.00 and gave the company a buy rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $69.85.

GXO Logistics Trading Up 4.3 %

Shares of GXO traded up $2.18 on Thursday, reaching $53.11. 1,569,708 shares of the company’s stock were exchanged, compared to its average volume of 870,510. GXO Logistics has a 12 month low of $48.11 and a 12 month high of $67.57. The stock has a market capitalization of $6.34 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.63. 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 business has a 50 day moving average price of $50.55 and a two-hundred day moving average price of $54.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Research analysts anticipate that GXO Logistics will post 2.78 earnings per share for the current year.

Insider Activity

In other news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by company 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.