Xerox (NYSE:XRX) Issues FY19 Earnings Guidance

Xerox (NYSE:XRX) updated its FY19 earnings guidance on Tuesday. The company provided EPS guidance of $3.80-3.95 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.89. Xerox also updated its FY 2019 guidance to $3.80-3.95 EPS.

XRX has been the subject of a number of research reports. Credit Suisse Group initiated coverage on Xerox in a research note on Thursday, April 11th. They issued an outperform rating and a $42.00 target price for the company. ValuEngine lowered Xerox from a hold rating to a sell rating in a research note on Thursday. Finally, Zacks Investment Research lowered Xerox from a buy rating to a hold rating in a research note on Saturday, April 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Xerox currently has an average rating of Hold and an average target price of $36.00.

Shares of NYSE:XRX traded down $1.06 during midday trading on Friday, reaching $30.58. The company’s stock had a trading volume of 3,903,700 shares, compared to its average volume of 2,781,690. Xerox has a fifty-two week low of $18.58 and a fifty-two week high of $36.58. The company has a market capitalization of $7.11 billion, a P/E ratio of 8.84 and a beta of 1.71. The company has a quick ratio of 1.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.79. The stock’s fifty day simple moving average is $34.89.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.06. Xerox had a return on equity of 17.82% and a net margin of 5.76%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities analysts predict that Xerox will post 3.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a $0.25 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.00 dividend on an annualized basis and a yield of 3.27%. Xerox’s payout ratio is 28.90%.

About Xerox

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

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