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

GXO Logistics (NYSE:GXO) issued an update on its FY 2024 earnings guidance on Monday morning. 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.

GXO Logistics Price Performance

Shares of GXO traded down $0.71 during trading hours on Thursday, hitting $60.73. 354,054 shares of the stock were exchanged, compared to its average volume of 929,274. The stock’s 50-day moving average price is $54.53 and its two-hundred day moving average price is $51.91. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 68.27, 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 12-month low of $46.07 and a 12-month high of $63.33.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The company 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 10.21% and a net margin of 0.97%. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. Research analysts expect that GXO Logistics will post 2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

GXO has been the topic of several recent analyst reports. Susquehanna decreased their price target on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Citigroup began coverage on GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 target price on the stock. UBS Group increased their target price on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, TD Cowen increased their target price on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.55.

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.