Xerox (NYSE:XRX) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Xerox (NYSE:XRX) from a buy rating to a hold rating in a report released on Wednesday.

Separately, JPMorgan Chase & Co. raised their price objective on Xerox from $16.00 to $18.00 and gave the company an underweight rating in a research note on Friday, January 26th.

Xerox Stock Performance

NYSE:XRX opened at $14.38 on Wednesday. The stock’s 50-day simple moving average is $17.42 and its 200 day simple moving average is $16.30. The firm has a market capitalization of $1.79 billion, a PE ratio of 10.62 and a beta of 1.56. The company has a quick ratio of 0.91, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. Xerox has a twelve month low of $12.06 and a twelve month high of $19.78.

Xerox (NYSE:XRX) last released its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.29). The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. On average, analysts anticipate that Xerox will post 2.31 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s payout ratio is -63.69%.

Institutional Trading of Xerox

Hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Xerox during the fourth quarter valued at about $25,000. GAMMA Investing LLC bought a new position in shares of Xerox during the fourth quarter worth about $25,000. Hexagon Capital Partners LLC raised its position in shares of Xerox by 87.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 758 shares during the last quarter. TFO Wealth Partners LLC raised its position in shares of Xerox by 30,127.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after acquiring an additional 3,314 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Xerox by 1,733.2% during the fourth quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 4,333 shares during 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.