Xerox (XRX) to Release Earnings on Thursday

Xerox (NYSE:XRXGet Rating) will announce its earnings results before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Xerox (NYSE:XRXGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information technology services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.18). Xerox had a positive return on equity of 2.66% and a negative net margin of 16.10%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company posted $0.48 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts expect Xerox to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Xerox Trading Up 1.3 %

NYSE XRX opened at $17.28 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 0.93. Xerox has a 12 month low of $11.80 and a 12 month high of $23.25. The company’s fifty day moving average price is $15.74 and its two-hundred day moving average price is $15.77. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -2.51 and a beta of 1.72.

Insider Activity at Xerox

In other Xerox news, Director Hernandez Margarita Palau acquired 10,000 shares of Xerox stock in a transaction that occurred on Tuesday, November 29th. The shares were acquired at an average cost of $15.55 per share, with a total value of $155,500.00. Following the completion of the purchase, the director now directly owns 15,500 shares of the company’s stock, valued at approximately $241,025. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Xerox

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in Xerox by 14.8% in the 2nd quarter. State Street Corp now owns 4,706,349 shares of the information technology services provider’s stock valued at $71,049,000 after buying an additional 607,148 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Xerox by 45.5% during the 2nd quarter. Northern Trust Corp now owns 1,542,673 shares of the information technology services provider’s stock valued at $22,908,000 after buying an additional 482,478 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Xerox during the 1st quarter valued at about $9,659,000. Goldman Sachs Group Inc. grew its position in Xerox by 20.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,431,465 shares of the information technology services provider’s stock worth $21,257,000 after acquiring an additional 242,119 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Xerox by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,383,602 shares of the information technology services provider’s stock worth $161,977,000 after acquiring an additional 176,526 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Credit Suisse Group cut their price objective on shares of Xerox from $14.00 to $13.00 and set an “underperform” rating on the stock in a research report on Tuesday, October 18th. StockNews.com initiated coverage on shares of Xerox in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley reduced their price target on shares of Xerox from $14.00 to $11.00 and set an “underweight” rating on the stock in a research report on Monday, October 17th. Finally, Citigroup dropped their price objective on Xerox from $15.00 to $10.00 and set a “sell” rating for the company in a report on Wednesday, October 26th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $12.00.

Xerox Company Profile

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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.

Further Reading

Earnings History for Xerox (NYSE:XRX)

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