GXO Logistics (NYSE:GXO) Updates FY24 Earnings Guidance

GXO Logistics (NYSE:GXO) updated its FY24 earnings guidance on Monday. 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GXO. UBS Group reduced their price objective on shares of GXO Logistics from $71.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of GXO Logistics from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Citigroup started coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Susquehanna reduced 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. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.91.

GXO Logistics Stock Up 0.0 %

Shares of GXO traded up $0.02 on Monday, reaching $58.60. The company’s stock had a trading volume of 1,206,804 shares, compared to its average volume of 925,357. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. GXO Logistics has a twelve month low of $46.07 and a twelve month high of $63.33. The stock has a market capitalization of $7.00 billion, a PE ratio of 50.09, a PEG ratio of 1.79 and a beta of 1.55. The firm has a fifty day moving average of $54.12 and a 200-day moving average of $51.79.

GXO Logistics (NYSE:GXO) last released its earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. Equities analysts predict that GXO Logistics will post 2.78 EPS for the current year.

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.