Xerox (NYSE:XRX) Stock Rating Upgraded by StockNews.com

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

Several other equities analysts have also recently weighed in on XRX. JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.50.

Xerox Trading Down 0.7 %

Xerox stock opened at $9.17 on Thursday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The firm’s 50 day moving average price is $8.95 and its 200-day moving average price is $10.35. Xerox has a 1 year low of $8.02 and a 1 year high of $19.78. The stock has a market cap of $1.14 billion, a P/E ratio of -0.83 and a beta of 1.59.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities analysts predict that Xerox will post 1.12 earnings per share for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.91%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s payout ratio is -9.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its stake in Xerox by 2.7% in the second quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock worth $668,000 after purchasing an additional 1,500 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Xerox by 8.1% in the second quarter. Panagora Asset Management Inc. now owns 342,715 shares of the information technology services provider’s stock worth $3,982,000 after buying an additional 25,819 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Xerox during the 2nd quarter worth approximately $457,000. Mizuho Markets Americas LLC grew its position in Xerox by 282.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after acquiring an additional 261,180 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Xerox in the second quarter worth $78,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.