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

GXO Logistics (NYSE:GXO) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 2.730-2.930 for the period, compared to the consensus EPS 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 commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. UBS Group lifted their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna dropped their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Citigroup began coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target for the company. Finally, TD Cowen increased their price target on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.55.

GXO Logistics Stock Performance

NYSE:GXO traded up $3.66 during trading hours on Wednesday, reaching $61.36. 921,661 shares of the company’s stock were exchanged, compared to its average volume of 927,966. GXO Logistics has a 1-year low of $46.07 and a 1-year high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 52.13, a P/E/G ratio of 1.75 and a beta of 1.55. The company has a 50-day moving average of $54.28 and a 200 day moving average of $51.85.

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

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.