Xerox (XRX) Set to Announce Earnings on Tuesday

Xerox (NYSE:XRX) will announce its earnings results before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.53 per share for the quarter. Xerox has set its FY 2024 guidance at EPS.

Xerox (NYSE:XRX) last released its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. On average, analysts expect Xerox to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Xerox Trading Down 1.1 %

Shares of XRX opened at $10.30 on Wednesday. The firm has a market capitalization of $1.28 billion, a PE ratio of -9.81 and a beta of 1.57. Xerox has a 12-month low of $9.51 and a 12-month high of $19.78. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. The stock’s fifty day simple moving average is $10.46 and its 200-day simple moving average is $12.16.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.71%. The ex-dividend date is Monday, September 30th. Xerox’s dividend payout ratio (DPR) is presently -95.24%.

Wall Street Analysts Forecast Growth

XRX has been the topic of a number of recent analyst reports. Loop Capital reduced their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Citigroup began coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Xerox from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.25.

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.