<p class = "canvas-atom text-canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Actions of Photocopy (NYSE: XRX) gained 42.8% in January, according to data from & nbsp;S & amp; P Global Market Intelligence. Equities rose steadily as the market rebounded early in the month and then jumped sharply after the company posted fourth quarter results and expectations for 2019 reassuring shareholders. & Nbsp; "data-reactid =" 12 "> Parts of Photocopy (NYSE: XRX) rose 42.8% in January, according to data from S & P Global Market Intelligence. The stock has risen steadily in parallel with the rebound of the entire market earlier this month, then rose sharply after the company released fourth quarter results and forecasts for 2019 reassuring shareholders.
<p class = "canvas-canvas canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The Xerox action has dropped 27% at last quarter of 2018, with the steepest decline in December after the Moody's Investors Service downgraded its rating on the company's corporate bonds. Profit was however broken in the fourth quarter and the encouraging outlook for 2019 allowed the stock to rebound. "Data-reactid =" 27 "> Xerox stock fell 27% in the last quarter of 2018, the steepest drop in December after Investors Service downgraded its credit rating to the company's corporate bonds, but fourth-quarter earnings were beating and the encouraging outlook for 2019 helped bounce back equities.
An illustration of a photocopier.
Source of the image: Getty Images.
In the fourth quarter, Xerox sales fell about 5% to $ 2.53 billion, a figure lower than the average estimate set by analysts for a business turnover of $ 2.56 billion. However, earnings for the period were well above market expectations, with earnings per share of $ 1.14, easily exceeding analysts' average estimate of $ 1.04. Coupled with expectations of increased earnings growth in 2019, the beating allowed the Xerox stock to recover from its collapse.
The Xerox stock continued to climb in February, its shares trading up about 4.1% since the beginning of the month.
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The company expects sales to decrease by approximately 5% at constant exchange rates this year due to weak demand from OEMs and an unfavorable comparison of the product launch schedule. However, management anticipates that operating income for 2019 will increase by approximately 5% mid-way through its target to reach $ 1.2 billion, and adjusted EPS will be between 3.70%. and $ 3.80, up from $ 3.46 last year.
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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Keith Noonan has no position in the mentioned actions. The Motley Fool has no position in any of the actions mentioned. The Motley Fool has a disclosure policy."data-reactid =" 80 ">Keith Noonan does not own any of the shares mentioned. The Motley Fool has no position in any of the actions mentioned. Motley Fool has a disclosure policy.