Xerox (NYSE:XRX) Upgraded at StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a report published on Saturday.

Other equities research analysts also recently issued research reports about the company. Loop Capital reduced their price target on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Morgan Stanley reduced their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.50.

Xerox Stock Up 0.7 %

XRX opened at $8.95 on Friday. The stock has a fifty day moving average of $9.99 and a 200-day moving average of $11.45. The company has a market capitalization of $1.11 billion, a P/E ratio of -0.81 and a beta of 1.59. Xerox has a fifty-two week low of $8.02 and a fifty-two week high of $19.78. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $0.46 EPS. Xerox’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities analysts expect that Xerox will post 1.38 EPS for the current year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.17%. The ex-dividend date is Tuesday, December 31st. Xerox’s payout ratio is presently -9.06%.

Institutional Trading of Xerox

Several large investors have recently bought and sold shares of the business. CWM LLC lifted its stake in Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 1,378 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Xerox in the 1st quarter valued at $45,000. Gladius Capital Management LP acquired a new stake in shares of Xerox during the 3rd quarter valued at $29,000. US Bancorp DE grew its position in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 1,888 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in Xerox in the 1st quarter worth about $115,000. 85.36% of the stock is owned by institutional investors and hedge funds.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.