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

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

Xerox Stock Performance

Xerox stock traded down $1.66 during mid-day trading on Tuesday, reaching $14.76. 10,608,914 shares of the company's stock were exchanged, compared to its average volume of 2,382,955. The business's fifty day simple moving average is $17.50 and its 200 day simple moving average is $16.31. The firm has a market capitalization of $1.83 billion, a PE ratio of -73.80 and a beta of 1.56. Xerox has a one year low of $12.06 and a one year high of $19.78. 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 Dividend Announcement

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 issued 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 6.78%. Xerox's dividend payout ratio (DPR) is currently -500.00%.

Analyst Upgrades and Downgrades

XRX has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Xerox from $16.00 to $18.00 and gave the company an "underweight" rating in a report on Friday, January 26th. StockNews.com upgraded Xerox from a "hold" rating to a "buy" rating in a report 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.