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

Xerox (NYSE:XRX) released its earnings results on Tuesday. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29), RTT News reports. Xerox had a return on equity of 9.41% and a net margin of 0.01%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company earned $0.49 EPS. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. Xerox updated its FY 2024 guidance to EPS.

Xerox Stock Down 10.1 %

Xerox stock opened at $14.76 on Wednesday. The company has a market capitalization of $1.83 billion, a P/E ratio of 9.02 and a beta of 1.56. The firm’s fifty day simple moving average is $17.50 and its 200-day simple moving average is $16.31. The company has a current ratio of 1.14, a quick ratio of 0.91 and a debt-to-equity ratio of 1.06. Xerox has a 1-year low of $12.06 and a 1-year high of $19.78.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.78%. Xerox’s dividend payout ratio is currently -500.00%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Xerox from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th.

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.