Xerox (NYSE:XRX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a research report released on Tuesday morning.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley reduced 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. reduced their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Loop Capital lowered their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Xerox Stock Down 0.9 %

Shares of NYSE:XRX opened at $9.08 on Tuesday. 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 stock has a market cap of $1.13 billion, a price-to-earnings ratio of -0.82 and a beta of 1.59. The company has a 50 day moving average of $9.64 and a 200-day moving average of $11.11. Xerox has a one year low of $8.02 and a one year high of $19.78.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The business 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%. Xerox’s revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. On average, sell-side analysts forecast that Xerox will post 1.12 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid 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 yield of 11.01%. Xerox’s payout ratio is -9.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XRX. Price T Rowe Associates Inc. MD raised its stake in shares of Xerox by 6.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,169 shares of the information technology services provider’s stock valued at $1,167,000 after purchasing an additional 4,203 shares during the period. Tidal Investments LLC grew its holdings in shares of Xerox by 235.6% during the first quarter. Tidal Investments LLC now owns 176,518 shares of the information technology services provider’s stock worth $3,160,000 after buying an additional 123,922 shares in the last quarter. Comerica Bank raised its position in Xerox by 46.8% in the 1st quarter. Comerica Bank now owns 83,795 shares of the information technology services provider’s stock valued at $1,500,000 after buying an additional 26,700 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Xerox in the 1st quarter valued at approximately $115,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Xerox by 30.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 36,693 shares of the information technology services provider’s stock worth $638,000 after acquiring an additional 8,496 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Xerox

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.