Q3 2024 EPS Estimates for Xerox Holdings Co. Cut by Zacks Research (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) – Stock analysts at Zacks Research dropped their Q3 2024 EPS estimates for Xerox in a note issued to investors on Wednesday, August 14th. Zacks Research analyst R. Department now forecasts that the information technology services provider will post earnings per share of $0.57 for the quarter, down from their previous estimate of $0.61. The consensus estimate for Xerox’s current full-year earnings is $1.88 per share. Zacks Research also issued estimates for Xerox’s Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $1.85 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.74 EPS, FY2025 earnings at $1.92 EPS and Q1 2026 earnings at $0.25 EPS.

Xerox (NYSE:XRX) last released its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The company had revenue of $1.58 billion during 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%. Xerox’s revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS.

A number of other equities research analysts have also recently commented on the stock. Citigroup started coverage on shares of Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 target price for the company. Loop Capital lowered their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, April 24th. Finally, StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.75.

Xerox Trading Up 1.7 %

XRX stock opened at $10.25 on Friday. Xerox has a 12-month low of $9.51 and a 12-month high of $19.78. The business’s 50-day moving average is $11.62 and its 200 day moving average is $14.64. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -6.53 and a beta of 1.58.

Institutional Trading of Xerox

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Xerox by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock valued at $292,937,000 after purchasing an additional 190,034 shares during the period. Caxton Associates LP lifted its position in Xerox by 277.8% in the fourth quarter. Caxton Associates LP now owns 191,860 shares of the information technology services provider’s stock valued at $3,517,000 after buying an additional 141,079 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Xerox during the first quarter worth about $1,206,000. Franklin Resources Inc. increased its position in shares of Xerox by 127.3% during the fourth quarter. Franklin Resources Inc. now owns 132,811 shares of the information technology services provider’s stock valued at $2,434,000 after acquiring an additional 74,382 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in shares of Xerox during the first quarter valued at about $8,466,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend yield of 9.76%. Xerox’s dividend payout ratio is currently -63.69%.

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.