Xerox (NYSE:XRX) Posts Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Xerox (NYSE:XRX) released its quarterly earnings data on Tuesday. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26), Briefing.com reports. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company earned $0.46 EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. Xerox updated its FY 2024 guidance to EPS.

Xerox Stock Down 0.7 %

Shares of NYSE XRX opened at $8.17 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The firm has a market cap of $1.02 billion, a PE ratio of 7.99 and a beta of 1.57. The company’s fifty day simple moving average is $10.37 and its 200 day simple moving average is $11.88. Xerox has a 12-month low of $8.02 and a 12-month high of $19.78.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 12.24%. Xerox’s dividend payout ratio (DPR) is -9.06%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on XRX. JPMorgan Chase & Co. decreased their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday. Morgan Stanley decreased their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday. Loop Capital dropped their price target on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Xerox currently has a consensus rating of “Hold” and a consensus price target of $9.50.

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.