Xerox (NYSE:XRX) Posts Quarterly Earnings Results

Xerox (NYSE:XRX) announced its quarterly earnings data on Tuesday. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.29), RTT News reports. Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business earned $0.49 EPS. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. Xerox updated its FY 2024 guidance to EPS.

Xerox Stock Up 0.8 %

Shares of NYSE:XRX traded up $0.12 during trading on Friday, hitting $14.30. The company’s stock had a trading volume of 269,835 shares, compared to its average volume of 2,400,546. The company has a market capitalization of $1.78 billion, a PE ratio of 10.35 and a beta of 1.56. Xerox has a fifty-two week low of $12.06 and a fifty-two week high of $19.78. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 1.37. The stock’s 50-day moving average price is $17.32 and its two-hundred day moving average price is $16.29.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date is Wednesday, March 27th. Xerox’s payout ratio is -63.69%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.