Xerox Holdings Co. (NYSE:XRX) to Issue $0.25 Quarterly Dividend

Market Beat
2024.08.01 18:30
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Xerox Holdings Co. (NYSE:XRX) has declared a quarterly dividend of $0.25 per share, representing an annualized dividend of $1.00 and a yield of 9.55%. The company's dividend is sufficiently covered by earnings and it is expected to continue to cover its dividend in the future. Xerox's stock has been trading down and it reported lower than expected earnings for the quarter. Analysts anticipate that the company will post earnings per share of 1.88 for the current fiscal year.

Xerox Holdings Co. (NYSE:XRX - Get Free Report) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Investors of record on Monday, September 30th will be paid a dividend of 0.25 per share by the information technology services provider on Thursday, October 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.55%.

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Xerox has a dividend payout ratio of 52.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Xerox to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 50.5%.

Xerox Trading Down 2.8 %

Xerox stock traded down $0.30 during midday trading on Thursday, reaching $10.47. The stock had a trading volume of 1,192,944 shares, compared to its average volume of 2,204,172. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -6.86 and a beta of 1.58. The company has a fifty day moving average of $12.56 and a 200 day moving average of $15.24. Xerox has a 52-week low of $10.28 and a 52-week high of $19.78. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.48.

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Xerox (NYSE:XRX - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a positive return on equity of 7.49% and a negative net margin of 1.60%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company's quarterly revenue was down 10.0% on a year-over-year basis. On average, analysts anticipate that Xerox will post 1.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on XRX. JPMorgan Chase & Co. dropped their price objective on shares of Xerox from $18.00 to $17.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Xerox from a "buy" rating to a "hold" rating in a report on Friday, July 26th. Finally, Citigroup initiated coverage on shares of Xerox in a research report on Friday, June 28th. They set a "sell" rating and a $11.00 price target on the stock.


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View Our Latest Stock Report on Xerox

Xerox Company Profile

(Get Free Report)

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.

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