Xerox (XRX) – Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Xerox (NYSE: XRX) recently:

• 11/9/2024 – Xerox was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/1/2024 – Xerox was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/30/2024 – Xerox had its price target lowered by analysts at Morgan Stanley from $10.00 to $8.00. They now have an “underweight” rating on the stock.
• 10/30/2024 – Xerox had its price target lowered by analysts at JPMorgan Chase & Co. from $11.00 to $8.00. They now have an “underweight” rating on the stock.
• 10/21/2024 – Xerox had its price target lowered by analysts at JPMorgan Chase & Co. from $13.00 to $11.00. They now have an “underweight” rating on the stock.

Xerox Stock Down 4.6 %

XRX traded down $0.40 during trading on Wednesday, reaching $8.27. 2,429,964 shares of the stock traded hands, compared to its average volume of 2,212,825. Xerox Holdings Co. has a fifty-two week low of $8.02 and a fifty-two week high of $19.78. The stock’s 50-day simple moving average is $9.94 and its two-hundred day simple moving average is $11.42. The stock has a market cap of $1.03 billion, a price-to-earnings 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 0.95.

Xerox (NYSE:XRX) last announced its quarterly earnings results 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). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm earned $0.46 EPS. Xerox’s quarterly revenue was down 7.5% on a year-over-year basis. As a group, equities research analysts expect that Xerox Holdings Co. will post 1.38 EPS for the current year.

Xerox Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.09%. Xerox’s payout ratio is presently -9.06%.

Hedge Funds Weigh In On Xerox

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its stake in Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the period. Gladius Capital Management LP bought a new position in Xerox during the third quarter valued at about $29,000. EntryPoint Capital LLC bought a new position in Xerox during the first quarter valued at about $45,000. US Bancorp DE grew its stake in shares of Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 1,888 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Xerox in the 2nd quarter valued at approximately $78,000. 85.36% of the stock is currently owned by institutional investors.

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.