GXO Logistics (NYSE:GXO) Releases FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.73-$2.93 for the period, compared to the consensus estimate of $2.71.

GXO Logistics Stock Up 0.9 %

GXO Logistics stock opened at $50.16 on Wednesday. The stock has a market capitalization of $5.99 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.09 and a beta of 1.64. GXO Logistics has a twelve month low of $48.11 and a twelve month high of $67.57. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $51.29 and a 200-day moving average of $54.64.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on GXO shares. TD Cowen upped their price target on shares of GXO Logistics from $70.00 to $78.00 and gave the company an outperform rating in a report on Thursday, February 15th. JPMorgan Chase & Co. cut 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. Loop Capital cut 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. Stifel Nicolaus boosted their price objective on shares of GXO Logistics from $69.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Finally, BNP Paribas raised shares of GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price objective on the stock in a research report on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $69.54.

Insiders Place Their Bets

In other GXO Logistics news, Director Gena L. Ashe sold 4,737 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.00, for a total transaction of $236,850.00. Following the sale, the director now directly owns 20,851 shares of the company’s stock, valued at $1,042,550. The transaction was disclosed in a legal 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.