Xerox (NYSE:XRX) Posts Earnings Results, Misses Estimates By $0.29 EPS

Xerox (NYSE:XRX) posted its quarterly earnings results on Tuesday. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29), RTT News reports. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. 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 Trading Up 0.8 %

Shares of NYSE XRX traded up $0.12 during trading hours on Friday, hitting $14.30. 269,835 shares of the company traded hands, compared to its average volume of 2,400,546. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.35 and a beta of 1.56. The company has a current ratio of 1.37, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The company’s 50 day moving average price is $17.32 and its 200 day moving average price is $16.29. Xerox has a 12 month low of $12.06 and a 12 month high of $19.78.

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.99%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s dividend payout ratio is currently -63.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on XRX shares. JPMorgan Chase & Co. lowered their price target on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report 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.