Xerox Corporation (NYSE:XRX) is projected to declare fiscal first quarter financial results right before the stock market’s official open on April 25, 2017. The stock added about 5.9 percent in price since last results when it was at $6.95 a share. Based on the most relevant past-periods data, there is an 53.57 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 15 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 58.% of the time in its last 12 earnings reports. It fell short of earnings estimates on 2 occasions, and it has met expectations 3 times.
Here’s how traders responded to XRX earnings announcements over the past few quarters.
Xerox Corporation (XRX) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 3.91 percent over the past four quarters. Back on January 31, 2017, it posted earnings per-share earnings at $0.25 which came in line with the consensus $0.25 projection (no surprise). For the quarter, revenue came in at 2.73B versus consensus estimate of 2.76B. The stock dropped -0.29 percent the session following the earnings reports were released, and on 7th day price change was 1.73 percent.
On October 28, 2016, it reported earnings at $0.27 a share compared with the consensus estimate of $0.27 per share (negative surprise of 0%). Revenue of 4.21B for that quarter was below the $4.31B analysts had expected. The stock climbed 2.85% the day following the earnings announcement, and on 7th day price change was -2.32%.
On July 29, 2016, it recorded $0.3 a share in earnings which topped the consensus estimate of $0.25 (positive surprise of 20%). Revenue for the quarter was $4.39B while analysts called for revenues to be $4.39B. The stock gained 4% the day following the earnings data was made public, and on 7th day price change was -0.72%.
On April 25, 2016, it announced earnings per share at $0.22 versus the consensus estimate of $0.23 per share (negative surprise of -4.35%). That came on revenues of $4.28B for that period. Analysts had expected $4.24B in revenue.
Xerox Corporation Earnings Estimates
As Q1 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.16. The analysts’ present consensus range is $0.14-$0.18 for EPS. The market consensus range for revenue is between $2.41B and $2.49B, with an average of $2.45B.
Xerox Corporation (NYSE:XRX) last ended at $7.31, sending the company’s market cap near $7.43B. The consensus 12-month price target from analysts covering the stock is $8.44. The share price has declined -4.94% from its top level in 52 weeks and dropped 27.13% this year. It recently traded in a range of $7.29-$7.45 at a volume of 17957425 shares. The recent trading ended with the price nearly -1.88 lower for the last 5 trading days, rebounding 27.72% from its 52-week low.