GXO Logistics (NYSE:GXO) Updates FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $50.52 on Friday. The firm has a market capitalization of $6.03 billion, a P/E ratio of 26.45, a PEG ratio of 2.13 and a beta of 1.64. GXO Logistics has a one year low of $48.11 and a one year high of $67.57. The company’s fifty day moving average is $50.97 and its two-hundred day moving average is $54.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.98 and a current ratio of 0.98.

GXO Logistics (NYSE:GXO) last issued its 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. Analysts forecast that GXO Logistics will post 2.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GXO. TD Cowen boosted their price objective on shares of GXO Logistics from $78.00 to $80.00 and gave the stock a buy rating in a research report on Thursday. Citigroup decreased their price objective on shares of GXO Logistics from $66.00 to $64.00 and set a buy rating on the stock in a research report on Thursday, February 15th. JPMorgan Chase & Co. decreased their price objective on shares of GXO Logistics from $67.00 to $65.00 and set an overweight rating on the stock in a research report on Tuesday, April 9th. Susquehanna boosted their price objective on shares of GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a research report on Thursday, February 15th. Finally, Loop Capital decreased their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $69.69.

Insider Activity at GXO Logistics

In other 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 completion of the transaction, the director now owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

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.