With operations in more than 180 countries, Xerox Corporation (XRX - Free Report) is a leader in the development, manufacture, marketing, servicing and financing of document equipment globally. Headquartered in Norwalk, CT, this century-old firm has helped organizations transform the way they manage their business processes and information.
XRX has beaten earnings estimates twice in the last four quarters, making for an average positive surprise of 6.50%. However, quite like its peers in the document industry, XRX is increasingly grappling with decreased demand for paper-related systems and products. With rising competition gradually weighing on margins, investors have been eagerly waiting for the company’s latest earnings report.
Currently, XRX has a Zacks Rank #5 (Strong Sell), but that could definitely change following its fourth-quarter 2016 earnings report which was just released.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: XRX reported in-line earnings. The company reported adjusted EPS of 25 cents per share, same as the Zacks Consensus Estimate.
Revenues: Revenues missed. XRX posted revenues of $2,734 million, compared to $2,946 million in the prior-year quarter.
Key Stats: Xerox completed the separation of its business process services company, now an independent company named Conduent Incorporated. Xerox offered its guidance for full-year 2017. It expects GAAP earnings to be in the range 44-52 cents per share; while adjusted EPS is expected to be 80-88 cents per share. Cash flow from continuing operations is expected to be in the range $700 to $900 million and free cash flow from continuing operations is likely to be between $525- $725 million in 2017.
Stock Price: Shares prices fell in pre-market trading following the earnings release at the time of writing as investors probably expected a healthy earnings beat.
Check back later for our full write up on this XRX earnings report later!
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In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
With operations in more than 180 countries, Xerox Corporation (XRX - Free Report) is a leader in the development, manufacture, marketing, servicing and financing of document equipment globally. Headquartered in Norwalk, CT, this century-old firm has helped organizations transform the way they manage their business processes and information.
XRX has beaten earnings estimates twice in the last four quarters, making for an average positive surprise of 6.50%. However, quite like its peers in the document industry, XRX is increasingly grappling with decreased demand for paper-related systems and products. With rising competition gradually weighing on margins, investors have been eagerly waiting for the company’s latest earnings report.
Currently, XRX has a Zacks Rank #5 (Strong Sell), but that could definitely change following its fourth-quarter 2016 earnings report which was just released.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: XRX reported in-line earnings. The company reported adjusted EPS of 25 cents per share, same as the Zacks Consensus Estimate.
Revenues: Revenues missed. XRX posted revenues of $2,734 million, compared to $2,946 million in the prior-year quarter.
Key Stats: Xerox completed the separation of its business process services company, now an independent company named Conduent Incorporated. Xerox offered its guidance for full-year 2017. It expects GAAP earnings to be in the range 44-52 cents per share; while adjusted EPS is expected to be 80-88 cents per share. Cash flow from continuing operations is expected to be in the range $700 to $900 million and free cash flow from continuing operations is likely to be between $525- $725 million in 2017.
Stock Price: Shares prices fell in pre-market trading following the earnings release at the time of writing as investors probably expected a healthy earnings beat.
Check back later for our full write up on this XRX earnings report later!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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