GXO Logistics (NYSE:GXO) Releases FY24 Earnings Guidance

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

GXO Logistics Price Performance

GXO traded down $0.25 on Tuesday, hitting $51.18. 1,173,122 shares of the company’s stock traded hands, compared to its average volume of 859,583. 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 one year low of $48.11 and a one year high of $67.57. The company’s 50 day simple moving average is $50.58 and its 200-day simple moving average is $54.37. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 2.11 and a beta of 1.63.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. GXO Logistics had a net margin of 2.34% and a return on equity of 10.94%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The business’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts anticipate that GXO Logistics will post 2.78 EPS for the current year.

Analysts Set New Price Targets

GXO has been the subject of several analyst reports. Citigroup decreased their price objective on shares of GXO Logistics from $66.00 to $64.00 and set a buy rating for the company in a research note on Thursday, February 15th. Loop Capital lowered their price objective on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a research report on Thursday, April 18th. TD Cowen upped their target price on GXO Logistics from $78.00 to $80.00 and gave the stock a buy rating in a report on Thursday, April 25th. BNP Paribas upgraded GXO Logistics from an underperform rating to a neutral rating and set a $50.00 price objective for the company in a report on Wednesday, March 27th. Finally, Susquehanna increased their target price on shares of GXO Logistics from $73.00 to $75.00 and gave the stock a positive rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $69.69.

Insider Activity at GXO Logistics

In related 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 completion of the transaction, the director now owns 20,851 shares in the company, valued at approximately $1,042,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

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.