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

Xerox (NYSE:XRX) issued its earnings results on Tuesday. The information technology services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.29), RTT News reports. Xerox had a return on equity of 9.41% and a net margin of 0.01%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business posted $0.49 EPS. Xerox’s revenue was down 12.8% on a year-over-year basis. Xerox updated its FY 2024 guidance to EPS.

Xerox Trading Down 0.1 %

NYSE:XRX opened at $16.42 on Tuesday. The stock’s 50 day moving average price is $17.56 and its 200 day moving average price is $16.32. The company has a market capitalization of $2.04 billion, a PE ratio of 9.03 and a beta of 1.56. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 1.06. Xerox has a 52-week low of $12.06 and a 52-week high of $19.78.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.09%. Xerox’s dividend payout ratio is presently -500.00%.

Analysts Set New Price Targets

XRX has been the topic of several research analyst reports. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their target price on Xerox from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th.

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.