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 note published on Monday.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered 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. Morgan Stanley decreased their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Xerox presently has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Stock Performance

NYSE:XRX opened at $8.75 on Monday. The firm’s fifty day simple moving average is $9.19 and its 200 day simple moving average is $10.58. 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 has a twelve month low of $8.02 and a twelve month high of $19.78. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -0.79 and a beta of 1.59.

Xerox (NYSE:XRX) last issued its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Xerox will post 1.12 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The firm 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 of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 11.43%. Xerox’s dividend payout ratio is presently -9.06%.

Institutional Trading of Xerox

Several institutional investors have recently added to or reduced their stakes in XRX. Tidal Investments LLC increased its position in shares of Xerox by 26.1% in the 3rd quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider’s stock worth $710,000 after purchasing an additional 14,164 shares during the last quarter. Geode Capital Management LLC increased its holdings in Xerox by 2.3% in the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after buying an additional 62,947 shares during the last quarter. Barclays PLC raised its stake in Xerox by 55.5% during the third quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after buying an additional 167,500 shares in the last quarter. Stifel Financial Corp lifted 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 worth $1,582,000 after buying an additional 46,708 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Xerox by 39.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock worth $398,000 after acquiring an additional 10,794 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.