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

Xerox (NYSE:XRX) issued its quarterly earnings results 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. Xerox had a net margin of 0.01% and a return on equity of 9.41%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $0.49 EPS. The company’s revenue was down 12.8% compared to the same quarter last year. Xerox updated its FY 2024 guidance to EPS.

Xerox Trading Down 0.1 %

NYSE XRX opened at $16.42 on Tuesday. The firm has a market cap of $2.04 billion, a P/E ratio of -82.10 and a beta of 1.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.14 and a quick ratio of 0.91. The stock’s 50-day moving average is $17.56 and its 200-day moving average is $16.32. Xerox has a one year low of $12.06 and a one year high of $19.78.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders 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 dividend yield of 6.09%. The ex-dividend date is Wednesday, March 27th. Xerox’s dividend payout ratio is currently -500.00%.

Analysts Set New Price Targets

Several equities analysts have weighed in on XRX shares. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on Xerox from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, January 26th.

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.