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

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

Wall Street Analyst Weigh In

Several research analysts recently commented on GXO shares. JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an overweight rating in a report on Tuesday, July 9th. Stifel Nicolaus restated a buy rating and set a $74.00 target price on shares of GXO Logistics in a report on Wednesday, May 15th. Morgan Stanley restated an overweight rating and set a $70.00 target price on shares of GXO Logistics in a report on Tuesday, May 14th. TD Cowen increased their target price on shares of GXO Logistics from $80.00 to $82.00 and gave the stock a buy rating in a report on Thursday, May 9th. Finally, Loop Capital reduced their target price on shares of GXO Logistics from $76.00 to $74.00 and set a buy rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, GXO Logistics has an average rating of Moderate Buy and an average target price of $69.00.

GXO Logistics Stock Performance

GXO stock traded up $1.26 during trading hours on Wednesday, reaching $48.74. The stock had a trading volume of 32,031 shares, compared to its average volume of 852,214. The stock has a market capitalization of $5.82 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.63 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50-day simple moving average of $50.88 and a 200 day simple moving average of $51.67. GXO Logistics has a fifty-two week low of $46.38 and a fifty-two week high of $65.75.

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

Insiders Place Their Bets

In other GXO Logistics news, CEO Malcolm Wilson acquired 10,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $49.95 per share, for a total transaction of $499,500.00. Following the purchase, the chief executive officer now directly owns 100,814 shares of the company’s stock, valued at $5,035,659.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.20% 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.