Xerox (NYSE:XRX) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Xerox (NYSE:XRX) from a buy rating to a hold rating in a research report report published on Friday morning.

Other equities analysts have also recently issued reports about the company. Morgan Stanley reduced their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Loop Capital decreased 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Performance

NYSE:XRX opened at $8.29 on Friday. The business has a fifty day simple moving average of $10.27 and a two-hundred day simple moving average of $11.76. Xerox has a 1 year low of $8.02 and a 1 year high of $19.78. The company has a market capitalization of $1.03 billion, a P/E ratio of -0.75 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 1.13.

Xerox (NYSE:XRX) last posted its earnings results 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). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. On average, analysts expect that Xerox will post 1.55 earnings per share 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 12.06%. Xerox’s dividend payout ratio is currently -9.06%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of XRX. CWM LLC grew 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 worth $26,000 after buying an additional 1,378 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Xerox during the 1st quarter worth $45,000. US Bancorp DE grew its position in Xerox by 42.3% in the third 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 in the last quarter. nVerses Capital LLC bought a new position in Xerox in the second quarter valued at $78,000. Finally, Plato Investment Management Ltd raised its position in Xerox by 45.0% during the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after purchasing an additional 2,899 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.