Xerox (NYSE:XRX) Issues Earnings Results

Xerox (NYSE:XRX) released its 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 return on equity of 9.41% and a net margin of 0.01%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business posted $0.49 EPS. Xerox’s revenue was down 12.8% on a year-over-year basis. Xerox updated its FY 2024 guidance to EPS.

Xerox Trading Down 0.1 %

XRX stock opened at $16.42 on Tuesday. The firm has a fifty day moving average price of $17.56 and a 200 day moving average price of $16.32. Xerox has a fifty-two week low of $12.06 and a fifty-two week high of $19.78. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.91 and a current ratio of 1.14. The firm has a market cap of $2.04 billion, a PE ratio of 9.03 and a beta of 1.56.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s dividend payout ratio (DPR) is presently -500.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on XRX. JPMorgan Chase & Co. raised their target price on shares of Xerox from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th.

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.