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

GXO Logistics (NYSE:GXO - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.730-2.930 for the period, compared to the consensus estimate of 2.770. The company issued revenue guidance of -. GXO Logistics also updated its FY24 guidance to $2.73-2.93 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GXO. Susquehanna reduced 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 reduced their target price on 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. increased their price objective on GXO Logistics from $61.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, July 9th. Finally, Citigroup initiated coverage on GXO Logistics in a report on Wednesday, October 9th. They set a "buy" rating and a $60.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.91.

GXO Logistics Stock Performance

Shares of GXO Logistics stock traded up $0.02 during trading hours on Monday, reaching $58.60. The company had a trading volume of 1,206,804 shares, compared to its average volume of 925,357. GXO Logistics has a one year low of $46.07 and a one year high of $63.33. The business has a fifty day simple moving average of $54.12 and a 200 day simple moving average of $51.79. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $7.00 billion, a PE ratio of 50.09, a price-to-earnings-growth ratio of 1.79 and a beta of 1.55.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.02). GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same quarter last year, the business posted $0.70 EPS. The company's quarterly revenue was up 18.9% on a year-over-year basis. On average, analysts anticipate that GXO Logistics will post 2.78 earnings per share for the current fiscal 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.

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