GXO Logistics (NYSE:GXO) Updates FY24 Earnings Guidance

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

GXO Logistics Price Performance

Shares of GXO stock traded up $2.43 during trading hours on Wednesday, reaching $60.13. The company had a trading volume of 329,754 shares, compared to its average volume of 925,223. GXO Logistics has a 12-month low of $46.07 and a 12-month high of $63.33. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 49.31, a PEG 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. The stock has a fifty day moving average of $54.12 and a 200-day moving average of $51.79.

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

Analyst Upgrades and Downgrades

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

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.