Xerox (NYSE:XRX) Announces Quarterly Earnings Results, Misses Expectations By $0.71 EPS
Xerox (NYSE:XRX) reported quarterly earnings of ($0.64) per share, missing expectations by $0.71. The company had a return on equity of 7.57% and a negative net margin of 21.24%. Revenue decreased by 0.1% year-over-year. The stock fell 3.0% to $3.93 following the announcement. Xerox also declared a quarterly dividend of $0.025, yielding 2.5%. Insider purchases included CEO Steven Bandrowczak acquiring 22,300 shares and CFO Mirlanda Gecaj buying 10,000 shares. Hedge funds have recently increased their stakes in Xerox.
Xerox (NYSE:XRX - Get Free Report) posted its quarterly earnings data on Thursday. The information technology services provider reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.71), Briefing.com reports. Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same period last year, the firm earned $0.29 earnings per share. The company's revenue was down .1% on a year-over-year basis. Xerox updated its FY 2025 guidance to EPS.
Xerox Trading Down 3.0%
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NYSE XRX traded down $0.12 on Friday, reaching $3.93. The stock had a trading volume of 7,642,335 shares, compared to its average volume of 4,079,862. Xerox has a 12-month low of $3.44 and a 12-month high of $11.42. The stock has a fifty day moving average price of $5.27 and a two-hundred day moving average price of $5.87. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $494.35 million, a price-to-earnings ratio of -0.37 and a beta of 1.82.
Xerox Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a yield of 2.5%. Xerox's payout ratio is presently -0.87%.
Insider Buying and Selling
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In other Xerox news, CEO Steven John Bandrowczak bought 22,300 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of $4.48 per share, for a total transaction of $99,904.00. Following the completion of the purchase, the chief executive officer owned 382,442 shares of the company's stock, valued at approximately $1,713,340.16. This represents a 6.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mirlanda Gecaj bought 10,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were acquired at an average price of $4.41 per share, with a total value of $44,100.00. Following the purchase, the chief financial officer directly owned 15,956 shares of the company's stock, valued at approximately $70,365.96. This trade represents a 167.90% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 82,300 shares of company stock worth $364,254 over the last ninety days. Insiders own 1.50% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in Xerox by 37.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider's stock valued at $7,608,000 after buying an additional 431,349 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Xerox by 2.1% during the 1st quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider's stock worth $2,992,000 after purchasing an additional 12,633 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Xerox by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider's stock worth $2,898,000 after purchasing an additional 50,467 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Xerox by 71.7% during the 1st quarter. AQR Capital Management LLC now owns 345,631 shares of the information technology services provider's stock worth $1,661,000 after purchasing an additional 144,280 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Xerox by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider's stock worth $333,000 after purchasing an additional 2,838 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.
About Xerox
(Get Free Report)- 2 former tech trailblazers rising like a phoenix
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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