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 Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. cut their target price on shares of GXO Logistics from $67.00 to $65.00 and set an overweight rating for the company in a research report on Tuesday, April 9th. Loop Capital cut their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a research report on Thursday, April 18th. Susquehanna upped their target price 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. Stifel Nicolaus upped their target price on shares of GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, Citigroup dropped 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. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $69.54.

GXO Logistics Price Performance

Shares of NYSE GXO traded down $1.04 during mid-day trading on Wednesday, hitting $49.10. 1,003,060 shares of the company’s stock traded hands, compared to its average volume of 873,055. The company’s 50-day moving average is $51.29 and its two-hundred day moving average is $54.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $5.86 billion, a P/E ratio of 25.60, a PEG ratio of 2.09 and a beta of 1.64. GXO Logistics has a 1 year low of $48.11 and a 1 year high of $67.57.

GXO Logistics (NYSE:GXO) last announced its earnings results on Tuesday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $2.59 billion for 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 revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. On average, equities analysts anticipate that GXO Logistics will post 2.78 EPS for the current fiscal year.

Insider Activity at GXO Logistics

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 transaction, the director now directly 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 currently 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.