What is Zacks Research’s Forecast for Xerox FY2024 Earnings?

Xerox Holdings Co. (NYSE:XRX) – Zacks Research cut their FY2024 EPS estimates for shares of Xerox in a research report issued on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the information technology services provider will post earnings of $1.09 per share for the year, down from their previous estimate of $1.85. The consensus estimate for Xerox’s current full-year earnings is $1.12 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.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS.

Other analysts have also recently issued reports about the company. Loop Capital decreased their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley lowered their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Up 3.3 %

Shares of NYSE:XRX opened at $9.04 on Friday. Xerox has a 1-year low of $8.02 and a 1-year high of $19.78. The stock has a market cap of $1.12 billion, a P/E ratio of -0.82 and a beta of 1.59. The firm has a fifty day moving average price of $9.66 and a 200 day moving average price of $11.15. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.06%. The ex-dividend date is Tuesday, December 31st. Xerox’s payout ratio is currently -9.06%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after buying an additional 4,228,806 shares during the period. SG Capital Management LLC acquired a new position in shares of Xerox during the first quarter worth $8,466,000. Mizuho Markets Americas LLC boosted its position in Xerox by 282.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after buying an additional 261,180 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the last quarter. Finally, Barclays PLC grew its holdings 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 in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.