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

Xerox Holdings Co. (NYSE:XRX) – Equities researchers at Zacks Research cut their FY2024 earnings per share (EPS) estimates for shares of Xerox in a research note issued to investors 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 forecast 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.

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

Xerox Trading Up 3.3 %

XRX opened at $9.04 on Friday. The business’s 50 day moving average price is $9.66 and its 200 day moving average price is $11.15. 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 stock has a market capitalization of $1.12 billion, a PE ratio of -0.82 and a beta of 1.59. Xerox has a one year low of $8.02 and a one year high of $19.78.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates 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%. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.06%. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Hedge Funds Weigh In On Xerox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its position in shares of Xerox by 9.5% during the third quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after buying an additional 69,183 shares in the last quarter. SG Capital Management LLC acquired a new position in Xerox during the 1st quarter worth approximately $8,466,000. AQR Capital Management LLC increased its position in shares of Xerox by 75.2% in the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock valued at $2,081,000 after purchasing an additional 76,886 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Xerox by 27.9% in the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after purchasing an additional 225,617 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of Xerox by 16.9% during the 3rd quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after purchasing an additional 107,127 shares during the last quarter. Hedge funds and other institutional investors 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.