Xerox shows second quarter profit

Xerox Corp (NYSE:XRX) updated its FY15 earnings guidance on Friday.

Earnings whispers calls American Airlines to report $2.65 in earnings per share (EPS) in second quarter of fiscal year 2015 (2QFY15), beating the analysts forecast of $2.59. The company repurchased $395 million in stock in the quarter, bringing the total to $611 million in the first-half of 2015.

An earnings surprise is the calculated difference between a firm’s expected earnings numbers provided by Wall Street analysts and the actual reported numbers.

On valuation measures, Xerox Corp. shares have a T-12 price/sales ratio of 0.61 and a price/book for the same period of 1.16. No analyst rates it a “Sell”.

Using a simplified 1 to 5 rating system produces a score of 2 for Xerox Corporation, where 1 represents a Strong Buy rating and 5 would indicate a Strong Sell rating.

A recent analyst activity consisted of Tigress Financial downgrading their Neutral rating to Underperform on May 8. Thomson Reuters had a consensus analyst price target of around $13.50 before the report.

Xerox Corporation (NYSE:XRX): On Wednesday heightened volatility was witnessed in Xerox Corporation (NYSE:XRX) which led to swings in the share price. The 52-week low of the share price is at $10.24. Revenue from the company’s document technology business was $1.9 billion, down 12 percent. Revenues from DO decreased 3% year over year to $833 million as growth in the partner print services offerings was offset by negative currency translation effect.

Xerox Corp (NYSE:XRX) last issued its quarterly earnings data on Friday, July 24th.

The Norwalk, Connecticut-based company reported a quarterly net profit of $12 million, or $0.01 per share, versus a year-ago profit of $266 million, or $0.22 per share.

Total revenue fell seven percent to $4.59 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. Gross margin was 31.1 percent, and selling, administrative and general expenses were 19.7 percent of revenue. The share price increased by 0.11 points to $10.7. The ex-dividend date is Monday, September 28th.

“Xerox for me is a work in progress because they are fixing their services business while continuing to garner significant amount of cash out of the printing business”, Cross said.

Xerox, like rival printer/copier makers Lexmark global Inc and Hewlett-Packard Co, is shifting its focus to high-value software and service businesses as corporate customers reduce printing to cut costs and consumers shift to mobile devices. The Company operates in three segments: Services, Document Technology and Other.