GXO Logistics (NYSE:GXO – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.700-2.900 for the period, compared to the consensus estimate of 2.730. The company issued revenue guidance of -. GXO Logistics also updated its FY24 guidance to $2.73-$2.93 EPS.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. BNP Paribas raised GXO Logistics from an underperform rating to a neutral rating and set a $50.00 target price for the company in a research report on Wednesday, March 27th. Loop Capital cut their price target on GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a report on Thursday, April 18th. Susquehanna raised their price target on GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a report on Thursday, February 15th. Stifel Nicolaus raised their price target on GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, TD Cowen raised their price target on GXO Logistics from $78.00 to $80.00 and gave the stock a buy rating in a report on Thursday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, GXO Logistics currently has an average rating of Moderate Buy and a consensus price target of $69.69.
View Our Latest Analysis on GXO
GXO Logistics Price Performance
GXO Logistics (NYSE:GXO – Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. Equities analysts forecast 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 the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.00, for a total transaction of $236,850.00. Following the completion of the transaction, the director now owns 20,851 shares in the company, valued at $1,042,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.
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.
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