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Xerox Holdings Corporation (XRX) Surges 5.2%: Is This an Indication of Further Gains?
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Xerox Holdings Corporation (XRX - Free Report) shares rallied 5.2% in the last trading session to close at $17.58. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.4% gain over the past four weeks.
Xerox extended its rally for the eighth straight day, driven by optimism about the company’s efforts in using AI and augmented reality to revolutionize operations, cut emissions and lower carbon footprints, aiding clients in achieving sustainability targets. This transformative tech addresses global supply-chain challenges effectively.
This company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of -42.7%. Revenues are expected to be $1.79 billion, down 7.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Xerox Holdings Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on XRX going forward to see if this recent jump can turn into more strength down the road.
Xerox Holdings Corporation is a member of the Zacks Office Supplies industry. One other stock in the same industry, Avery Dennison (AVY - Free Report) , finished the last trading session 1.3% higher at $198.95. AVY has returned 4% over the past month.
Avery Dennison's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.15. Compared to the company's year-ago EPS, this represents a change of +30.3%. Avery Dennison currently boasts a Zacks Rank of #3 (Hold).
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Xerox Holdings Corporation (XRX) Surges 5.2%: Is This an Indication of Further Gains?
Xerox Holdings Corporation (XRX - Free Report) shares rallied 5.2% in the last trading session to close at $17.58. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.4% gain over the past four weeks.
Xerox extended its rally for the eighth straight day, driven by optimism about the company’s efforts in using AI and augmented reality to revolutionize operations, cut emissions and lower carbon footprints, aiding clients in achieving sustainability targets. This transformative tech addresses global supply-chain challenges effectively.
This company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of -42.7%. Revenues are expected to be $1.79 billion, down 7.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Xerox Holdings Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on XRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Xerox Holdings Corporation is a member of the Zacks Office Supplies industry. One other stock in the same industry, Avery Dennison (AVY - Free Report) , finished the last trading session 1.3% higher at $198.95. AVY has returned 4% over the past month.
Avery Dennison's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.15. Compared to the company's year-ago EPS, this represents a change of +30.3%. Avery Dennison currently boasts a Zacks Rank of #3 (Hold).