Xerox (NYSE:XRX) Releases Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Xerox (NYSE:XRX) released its quarterly earnings data on Tuesday. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29), RTT News reports. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.53 billion. Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The company’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. Xerox updated its FY 2024 guidance to EPS.

Xerox Trading Down 2.6 %

XRX stock opened at $14.38 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. Xerox has a twelve month low of $12.06 and a twelve month high of $19.78. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 10.62 and a beta of 1.56. The firm’s fifty day simple moving average is $17.42 and its two-hundred day simple moving average is $16.30.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 yield of 6.95%. The ex-dividend date is Wednesday, March 27th. Xerox’s dividend payout ratio (DPR) is -63.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday.

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.