Xerox (NYSE:XRX) Issues Quarterly Earnings Results

Xerox (NYSE:XRX) issued its quarterly earnings data on Tuesday. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.28), Briefing.com reports. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. Xerox updated its FY 2024 guidance to EPS.

Xerox Stock Performance

XRX stock traded down $0.14 during trading on Wednesday, reaching $8.35. The company had a trading volume of 624,400 shares, compared to its average volume of 2,175,803. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -7.73 and a beta of 1.57. Xerox has a twelve month low of $8.02 and a twelve month high of $19.78. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a 50-day simple moving average of $10.41 and a 200-day simple moving average of $11.90.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 11.98%. The ex-dividend date is Monday, September 30th. Xerox’s dividend payout ratio (DPR) is presently -95.24%.

Analyst Ratings Changes

Several brokerages recently commented on XRX. JPMorgan Chase & Co. cut their price target on shares of Xerox from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Monday, October 21st. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Loop Capital dropped their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th.

About Xerox

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.