Zacks Research Issues Pessimistic Outlook for Xerox Earnings

Xerox Holdings Co. (NYSE:XRX - Free Report) - Investment analysts at Zacks Research lowered their FY2024 EPS estimates for shares of Xerox in a research note issued on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the information technology services provider will earn $1.09 per share for the year, down from their prior forecast of $1.85. The consensus estimate for Xerox's current full-year earnings is $1.38 per share. Zacks Research also issued estimates for Xerox's Q4 2024 earnings at $0.49 EPS, Q4 2025 earnings at $0.56 EPS, FY2025 earnings at $1.44 EPS, Q2 2026 earnings at $0.34 EPS and FY2026 earnings at $1.68 EPS.

A number of other equities research analysts have also recently issued reports on XRX. StockNews.com cut shares of Xerox from a "buy" rating to a "hold" rating in a research report on Sunday, November 17th. Loop Capital lowered their price objective on shares of Xerox from $14.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, August 14th. Morgan Stanley lowered their price objective on shares of Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Xerox from $11.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $9.50.

Xerox Price Performance

Shares of XRX stock traded up $0.38 during mid-day trading on Friday, reaching $9.13. The company's stock had a trading volume of 1,148,684 shares, compared to its average volume of 2,189,318. Xerox has a 1-year low of $8.02 and a 1-year high of $19.78. The company has a market cap of $1.14 billion, a P/E ratio of -0.82 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The firm's 50-day moving average is $9.69 and its two-hundred day moving average is $11.20.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company posted $0.46 EPS. The company's quarterly revenue was down 7.5% compared to the same quarter last year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.95%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox's dividend payout ratio (DPR) is presently -9.06%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XRX. Geode Capital Management LLC boosted its stake in Xerox by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider's stock worth $29,161,000 after acquiring an additional 62,947 shares during the last quarter. Barclays PLC boosted its stake in Xerox by 55.5% during the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider's stock worth $4,869,000 after acquiring an additional 167,500 shares during the last quarter. Stifel Financial Corp boosted its stake in Xerox by 44.2% during the 3rd quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider's stock worth $1,582,000 after acquiring an additional 46,708 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Xerox by 39.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider's stock worth $398,000 after acquiring an additional 10,794 shares during the last quarter. Finally, Coastwise Capital Group LLC boosted its stake in Xerox by 13.8% during the 3rd quarter. Coastwise Capital Group LLC now owns 24,075 shares of the information technology services provider's stock worth $250,000 after acquiring an additional 2,924 shares during the last quarter. Institutional investors own 85.36% of the company's stock.

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.