Xerox (NYSE:XRX) Upgraded at StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a research note published on Monday.

Several other brokerages have also issued reports on XRX. Morgan Stanley lowered their price target on shares of 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 price target 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 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. Based on data from MarketBeat, Xerox currently has a consensus rating of “Hold” and an average price target of $9.50.

Xerox Price Performance

Shares of Xerox stock opened at $8.36 on Monday. 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 company has a market cap of $1.04 billion, a PE ratio of -0.76 and a beta of 1.59. The firm has a fifty day moving average price of $9.12 and a two-hundred day moving average price of $10.53. Xerox has a fifty-two week low of $8.02 and a fifty-two week high of $19.78.

Xerox (NYSE:XRX) last released 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). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. Analysts expect that Xerox will post 1.12 EPS for the current year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.96%. Xerox’s payout ratio is presently -9.06%.

Institutional Investors Weigh In On Xerox

A number of hedge funds have recently made changes to their positions in XRX. Tidal Investments LLC grew its stake in Xerox by 26.1% during the third quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider’s stock worth $710,000 after buying an additional 14,164 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares in the last quarter. Barclays PLC grew its position in Xerox by 55.5% during the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after acquiring an additional 167,500 shares during the last quarter. Stifel Financial Corp increased its holdings in Xerox by 44.2% during the 3rd quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider’s stock valued at $1,582,000 after purchasing an additional 46,708 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Xerox by 39.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock valued at $398,000 after purchasing an additional 10,794 shares in the last quarter. Institutional investors and hedge funds 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.