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

GXO Logistics (NYSE:GXO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.730-2.930 for the period, compared to the consensus EPS estimate of 2.780. The company issued revenue guidance of -. GXO Logistics also updated its FY24 guidance to $2.73-$2.93 EPS.

GXO Logistics Price Performance

GXO stock traded up $1.26 during midday trading on Wednesday, hitting $48.74. The company’s stock had a trading volume of 32,031 shares, compared to its average volume of 852,214. GXO Logistics has a 12 month low of $46.38 and a 12 month high of $65.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 1.63 and a beta of 1.60. The company has a 50 day moving average of $50.88 and a two-hundred day moving average of $51.67.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a return on equity of 10.60% and a net margin of 1.68%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. On average, analysts expect that GXO Logistics will post 2.78 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley reaffirmed an overweight rating and set a $70.00 price objective on shares of GXO Logistics in a report on Tuesday, May 14th. Wells Fargo & Company began coverage on GXO Logistics in a report on Friday, June 7th. They set an overweight rating and a $58.00 price target on the stock. TD Cowen increased their price target on GXO Logistics from $80.00 to $82.00 and gave the company a buy rating in a report on Thursday, May 9th. JPMorgan Chase & Co. increased their price target on GXO Logistics from $61.00 to $63.00 and gave the company an overweight rating in a report on Tuesday, July 9th. Finally, Loop Capital decreased their price target on GXO Logistics from $76.00 to $74.00 and set a buy rating on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $69.00.

Insider Transactions at GXO Logistics

In other news, CEO Malcolm Wilson purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average price of $49.95 per share, with a total value of $499,500.00. Following the transaction, the chief executive officer now owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.20% 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.