GXO Logistics (NYSE:GXO) Updates FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.70-2.90 for the period, compared to the consensus earnings per share estimate of $2.71.

GXO Logistics Stock Performance

GXO traded up $0.14 during trading on Friday, reaching $53.27. 247,623 shares of the company were exchanged, compared to its average volume of 863,440. The stock has a market cap of $6.36 billion, a P/E ratio of 27.81, a PEG ratio of 2.11 and a beta of 1.63. The firm has a 50 day moving average of $50.57 and a 200 day moving average of $54.33. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.55. GXO Logistics has a 52 week low of $48.11 and a 52 week high of $67.57.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. On average, sell-side analysts forecast that GXO Logistics will post 2.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on GXO. Citigroup cut their target price on GXO Logistics from $66.00 to $64.00 and set a buy rating on the stock in a report on Thursday, February 15th. Susquehanna raised their target price on GXO Logistics from $73.00 to $75.00 and gave the company a positive rating in a report on Thursday, February 15th. JPMorgan Chase & Co. dropped their price objective on GXO Logistics from $67.00 to $65.00 and set an overweight rating on the stock in a research note on Tuesday, April 9th. BNP Paribas upgraded GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price objective on the stock in a research note on Wednesday, March 27th. Finally, TD Cowen lifted their price objective on GXO Logistics from $80.00 to $82.00 and gave the stock a buy rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $69.85.

Insider Buying and Selling

In related 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 value of $236,850.00. Following the completion of the transaction, the director now directly owns 20,851 shares of the company’s stock, valued at approximately $1,042,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% 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.