GXO Logistics (NYSE:GXO) Releases FY 2024 Earnings Guidance

GXO Logistics (NYSE:GXO - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.700-2.900 for the period, compared to the consensus earnings per share estimate of 2.730. The company issued revenue guidance of -. GXO Logistics also updated its FY24 guidance to $2.73-$2.93 EPS.

GXO Logistics Price Performance

Shares of NYSE:GXO traded down $1.04 during midday trading on Wednesday, hitting $49.10. 1,047,829 shares of the stock were exchanged, compared to its average volume of 876,816. The stock has a market cap of $5.86 billion, a P/E ratio of 25.71, a PEG ratio of 2.09 and a beta of 1.64. 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 twelve month low of $48.11 and a twelve month high of $67.57. The company has a 50 day moving average price of $51.18 and a 200-day moving average price of $54.60.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The firm had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.55 billion. GXO Logistics had a return on equity of 10.94% and a net margin of 2.34%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. On average, research analysts forecast that GXO Logistics will post 2.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GXO has been the subject of a number of recent research reports. Citigroup dropped their price objective on GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a research report on Thursday, February 15th. JPMorgan Chase & Co. lowered their price target on GXO Logistics from $67.00 to $65.00 and set an overweight rating for the company in a report on Tuesday, April 9th. Stifel Nicolaus lifted their price target on GXO Logistics from $69.00 to $75.00 and gave the company a buy rating in a report on Wednesday, January 10th. Susquehanna lifted their price target on GXO Logistics from $73.00 to $75.00 and gave the company a positive rating in a report on Thursday, February 15th. Finally, BNP Paribas upgraded GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price target for the company in a report on Wednesday, March 27th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $69.54.

Insider Activity

In other news, Director Gena L. Ashe sold 4,737 shares of GXO Logistics stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.00, for a total value of $236,850.00. Following the transaction, the director now directly owns 20,851 shares of the company's stock, valued at approximately $1,042,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.