GXO Logistics (NYSE:GXO) Issues FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $2.73-2.93 for the period, compared to the consensus EPS estimate of $2.77. GXO Logistics also updated its FY 2024 guidance to 2.730-2.930 EPS.

GXO Logistics Stock Performance

GXO Logistics stock traded down $0.19 during midday trading on Thursday, reaching $61.25. 174,531 shares of the stock traded hands, compared to its average volume of 928,443. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average price of $54.53 and a two-hundred day moving average price of $51.91. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 68.27, a PEG ratio of 1.75 and a beta of 1.55. GXO Logistics has a fifty-two week low of $46.07 and a fifty-two week high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.21%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. On average, equities research analysts forecast that GXO Logistics will post 2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GXO. TD Cowen boosted their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna dropped their target price on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. UBS Group boosted their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup assumed coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They set a “buy” rating and a $60.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.55.

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.