Xerox Holdings Corporation (XRX) Stock Moves -0.12%: What You Should Know

In the latest market close, Xerox Holdings Corporation (XRX) reached $16.19, with a -0.12% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.58% for the day. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.15%.

Shares of the company have depreciated by 3.63% over the course of the past month, underperforming the Industrial Products sector's gain of 0.09% and the S&P 500's loss of 1.09%.

Market participants will be closely following the financial results of Xerox Holdings Corporation in its upcoming release. The company plans to announce its earnings on April 23, 2024. The company is forecasted to report an EPS of $0.37, showcasing a 24.49% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.58 billion, showing an 8.01% drop compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $2.27 per share and a revenue of $6.56 billion, demonstrating changes of +24.73% and -4.79%, respectively, from the preceding year.

Investors might also notice recent changes to analyst estimates for Xerox Holdings Corporation. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Xerox Holdings Corporation is carrying a Zacks Rank of #3 (Hold).

Investors should also note Xerox Holdings Corporation's current valuation metrics, including its Forward P/E ratio of 7.13. This represents no noticeable deviation compared to its industry's average Forward P/E of 7.13.

The Office Supplies industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 98, positioning it in the top 39% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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