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

Xerox (NYSE:XRX) announced its quarterly earnings data 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. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. Xerox had a net margin of 0.01% and a return on equity of 9.41%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Xerox updated its FY 2024 guidance to EPS.

Xerox Stock Performance

Shares of XRX opened at $16.42 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.91 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -82.10 and a beta of 1.56. The stock has a 50 day moving average of $17.56 and a 200 day moving average of $16.32. Xerox has a 12 month low of $12.06 and a 12 month high of $19.78.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.25 per share. 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 payout ratio is -500.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Xerox from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note 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.