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 (EPS) guidance of $2.70-2.90 for the period, compared to the consensus estimate of $2.71.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price target on GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. BNP Paribas raised shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 target price on the stock in a report on Wednesday, March 27th. TD Cowen increased their price target on shares of GXO Logistics from $80.00 to $82.00 and gave the stock a buy rating in a report on Thursday. Citigroup lowered their price objective on GXO Logistics from $66.00 to $64.00 and set a buy rating on the stock in a report on Thursday, February 15th. Finally, Loop Capital cut 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 analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to 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 %

NYSE GXO traded up $2.18 during trading hours on Thursday, hitting $53.11. 1,569,708 shares of the company’s stock were exchanged, compared to its average volume of 870,510. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98. The firm 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 business’s 50 day moving average is $50.55 and its 200-day moving average is $54.33. 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, May 7th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm posted $0.49 earnings per share. GXO Logistics’s revenue was up 5.7% on a year-over-year basis. As a group, analysts anticipate that GXO Logistics will post 2.78 EPS for the current fiscal year.

Insider Activity

In related 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 transaction, the director now directly owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.