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

GXO Logistics (NYSE:GXO) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.730-2.930 for the period, compared to the consensus estimate of 2.770. The company issued revenue guidance of -. GXO Logistics also updated its FY24 guidance to $2.73-2.93 EPS.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price target on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Citigroup started coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Susquehanna dropped their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.91.

GXO Logistics Stock Performance

NYSE:GXO traded down $0.80 during midday trading on Tuesday, reaching $57.80. The stock had a trading volume of 770,158 shares, compared to its average volume of 924,633. GXO Logistics has a 1-year low of $46.07 and a 1-year high of $63.33. The firm’s fifty day simple moving average is $54.12 and its 200-day simple moving average is $51.79. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $6.91 billion, a P/E ratio of 50.09, a PEG ratio of 1.75 and a beta of 1.55.

GXO Logistics (NYSE:GXO) last posted its earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the business posted $0.69 EPS. GXO Logistics’s revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts forecast that GXO Logistics will post 2.78 EPS for the current fiscal year.

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.