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Xerox stock downgraded

Xerox stock downgraded

August 8, 2012

OEM’s stock downgraded from “buy” to “hold” by the Street Ratings due to poor performance.

The Street reports that Xerox Corporation’s stock has been downgraded, listing the company’s “unimpressive growth in net income, weak operating cash flow and generally disappointing performance in the stock itself” as key reasons.

Although the article states that Xerox’s “attractive valuation levels, expanding profit margins and largely solid financial position” show that the company does have strengths, the ratings report detailed Xerox’s “flat earnings per share” in Q1, a 34.29 percent decrease in net operating cash flow which fell to $228 million (€184.7 million), and a growth rate “much lower” than the industry average. Net income was also found to have decreased by 3.1 percent to $309 million (€250.4 million).

This being said, the ratings report states that it is predicted that Xerox is poised for EPS growth over the next year, and that during the past fiscal year the company increased its bottom line, earning $0.89 from $0.41 in the previous year, with the market expecting this to improve to $1.07 this year.

Xerox are not the only OEM to have reported disappointing quarterly results, with The Recycler reporting on Lexmark’s weaker than expected results and HP shares also falling. .

Categories : Products and Technology

Tags : Market Data North America Xerox

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