Xerox (XRX) to Release Quarterly Earnings on Tuesday

Xerox (NYSE:XRX) will be issuing its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.53 per share for the quarter. Xerox has set its FY 2024 guidance at EPS.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. On average, analysts expect Xerox to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Xerox Stock Down 1.1 %

NYSE:XRX opened at $10.30 on Wednesday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -9.81 and a beta of 1.57. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. Xerox has a twelve month low of $9.51 and a twelve month high of $19.78. The stock’s 50 day moving average price is $10.46 and its two-hundred day moving average price is $12.16.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.71%. Xerox’s payout ratio is -95.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. reduced their price target on Xerox from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Monday. Loop Capital dropped their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, Citigroup initiated coverage on Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.25.

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.