GXO Logistics (NYSE:GXO) Releases FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.73-2.93 for the period, compared to the consensus earnings per share estimate of $2.77. GXO Logistics also updated its FY 2024 guidance to 2.730-2.930 EPS.

Analysts Set New Price Targets

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

GXO Logistics Stock Up 4.2 %

GXO stock traded up $2.43 during midday trading on Wednesday, reaching $60.13. 329,754 shares of the company were exchanged, compared to its average volume of 925,223. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics has a 1-year low of $46.07 and a 1-year high of $63.33. The stock’s 50-day simple moving average is $54.12 and its 200 day simple moving average is $51.79.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share 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 firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the company earned $0.69 earnings per share. GXO Logistics’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities analysts forecast that GXO Logistics will post 2.78 earnings per share 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.