GXO Logistics (NYSE:GXO) Issues 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 Stock Down 0.3 %

GXO stock traded down $0.19 during trading hours on Thursday, hitting $61.25. The company’s stock had a trading volume of 174,531 shares, compared to its average volume of 928,443. 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 company has a market capitalization of $7.32 billion, a PE ratio of 68.27, a price-to-earnings-growth ratio of 1.75 and a beta of 1.55. GXO Logistics has a 12 month low of $46.07 and a 12 month high of $63.33. The stock has a 50 day moving average price of $54.53 and a two-hundred day moving average price of $51.91.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.21%. GXO Logistics’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. On average, equities research analysts expect that GXO Logistics will post 2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen upped their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna dropped their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Citigroup initiated 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 for the company. Finally, UBS Group increased their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, GXO Logistics presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.55.

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.