I have not heard or read that the company bought back any shares in the most recent quarter. I thought the buybacks were scheduled to happen in the last two quarters of the year. The shrinkage of their outstanding shares by close to one billion dollars a year is supposed to be a major support for the stock price. Does anyone know what the story is? Thanks and good luck!
You may want to read the press releases rather than this message board for some hard facts relating to XRX!
XRX stock / market cap = $6.48 / $8.5B
2012 EPS guidance = $1.07 to $1.09 (adjusted/ex-items)
2013 EPS consensus = $1.16
2012 cash flow guidance = $2.0B to $2.3B
2011 share repurchase = $0.7B
2012 share repurchase guidance = $0.9B to $1.1B ($0.7B YTD)
Dividend / yield = $0.17 / 2.6%
Despite the weak global economy, XRX appears to be making a successful transition from a challenged hardware to a growing services business. Time will tell if XRX is a great value here or a nasty value trap. I've been a buyer around $6.50.
Thank you for your response. I did read the press release and listened to the conference call, but didn't hear or read anything except this paragraph with no mention of buybacks:
"The company generated $594 million in cash from operations and is on track to deliver full-year operating cash flow of $2 billion to $2.3 billion as well as repurchase $900 million to $1.1 billion in Xerox stock during the year."
I dug through their numbers and picked up the buyback, but one would think that an ongoing program with, I believe, such a positive influence on the price of the stock would be more prominently mentioned.
I do get my information from press releases, among other sources, but don't write off message boards, especially for smaller companies. Some boards are overwhelmed with political nonsense and people touting newsletters with bogus posters praising the services. Xerox is not too bad. Sometimes, it is a pain to go through the stuff, but every once in a while there is a gem among the garbage, your response being a case in point. Thank you for your kindness and could I ask you where you picked up that information.
I purchased my shares in the 7's and high 6's and may add more. Again, thank you.