GXO Logistics (NYSE:GXO) Updates FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.73-$2.93 for the period, compared to the consensus earnings per share estimate of $2.78. GXO Logistics also updated its FY 2024 guidance to 2.730-2.930 EPS.

Analysts Set New Price Targets

Several equities analysts have commented on GXO shares. Loop Capital cut their price objective on GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Stifel Nicolaus restated a buy rating and issued a $74.00 price target on shares of GXO Logistics in a report on Wednesday, May 15th. Wells Fargo & Company started coverage on shares of GXO Logistics in a report on Friday, June 7th. They set an overweight rating and a $58.00 price objective for the company. UBS Group dropped their target price on shares of GXO Logistics from $71.00 to $66.00 and set a buy rating on the stock in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an overweight rating and set a $70.00 target price on shares of GXO Logistics in a research report on Tuesday, May 14th. One research 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 an average rating of Moderate Buy and an average price target of $68.58.

GXO Logistics Stock Up 1.1 %

GXO Logistics stock traded up $0.54 during mid-day trading on Wednesday, reaching $48.02. 650,872 shares of the company were exchanged, compared to its average volume of 856,312. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $5.74 billion, a P/E ratio of 34.89, a PEG ratio of 1.63 and a beta of 1.60. The business has a fifty day moving average of $50.88 and a 200 day moving average of $51.67. GXO Logistics has a 12-month low of $46.38 and a 12-month high of $65.75.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. Research analysts anticipate that GXO Logistics will post 2.78 earnings per share for the current fiscal year.

Insider Transactions at GXO Logistics

In other news, CEO Malcolm Wilson bought 10,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $49.95 per share, for a total transaction of $499,500.00. Following the completion of the purchase, the chief executive officer now directly owns 100,814 shares in the company, valued at $5,035,659.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

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.