Xerox (NYSE:XRX) Releases Quarterly Earnings Results

Xerox (NYSE:XRX) posted its quarterly earnings data on Thursday. The information technology services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14), RTT News reports. Xerox had a positive return on equity of 7.49% and a negative net margin of 1.60%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue was down 10.0% compared to the same quarter last year. Xerox updated its FY 2024 guidance to EPS.

Xerox Price Performance

Shares of NYSE:XRX opened at $11.03 on Friday. Xerox has a 12 month low of $10.28 and a 12 month high of $19.78. The firm has a market capitalization of $1.37 billion, a P/E ratio of -7.03 and a beta of 1.58. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 1.07. The company’s fifty day moving average price is $12.73 and its 200 day moving average price is $15.35.

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.07%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s payout ratio is -63.69%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on XRX. JPMorgan Chase & Co. decreased their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, April 24th. Citigroup started coverage on shares of Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 price objective on the stock. Finally, StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research note on Friday.

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.