Xerox Holdings Co. (NYSE:XRX) to Issue Quarterly Dividend of $0.25

Xerox Holdings Co. (NYSE:XRX) declared a quarterly dividend on Thursday, October 31st,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.25 per share by the information technology services provider on Friday, January 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.93%. The ex-dividend date is Tuesday, December 31st.

Xerox has a payout ratio of 82.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Xerox to earn $1.30 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 76.9%.

Xerox Stock Down 0.2 %

Xerox stock opened at $9.15 on Friday. The company’s 50-day moving average price is $8.92 and its two-hundred day moving average price is $10.28. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -0.83 and a beta of 1.59. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS 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 firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $0.46 EPS. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, analysts expect that Xerox will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on XRX shares. Morgan Stanley lowered 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. JPMorgan Chase & Co. dropped their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Xerox has an average rating of “Hold” and a consensus price target of $9.50.

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.