Xerox (NYSE:XRX) Shares Up 1.9% – Still a Buy?

Xerox Holdings Co. (NYSE:XRX) traded up 1.9% on Friday . The company traded as high as $9.39 and last traded at $9.34. 386,708 shares changed hands during trading, a decline of 83% from the average session volume of 2,218,109 shares. The stock had previously closed at $9.17.

Analyst Ratings Changes

A number of analysts have recently commented on XRX shares. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley lowered their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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 given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.50.

Xerox Price Performance

The firm has a market capitalization of $1.14 billion, a PE ratio of -0.83 and a beta of 1.59. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The stock has a 50-day moving average price of $8.92 and a 200 day moving average price of $10.28.

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

Xerox Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 10.93%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio is presently -9.06%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in XRX. Louisiana State Employees Retirement System raised its position in shares of 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 valued at $668,000 after buying an additional 1,500 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Xerox in the 2nd quarter worth approximately $457,000. Mizuho Markets Americas LLC boosted its holdings in shares of Xerox by 282.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock worth $4,110,000 after purchasing an additional 261,180 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Xerox in the second quarter valued at approximately $78,000. Finally, Verus Capital Partners LLC acquired a new stake in shares of Xerox in the second quarter valued at approximately $802,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Company Profile

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.