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

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

Several other research analysts also recently weighed in on XRX. Loop Capital reduced their target price on Xerox from $14.00 to $11.00 and set a hold rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price objective on shares of Xerox from $18.00 to $17.00 and set an underweight rating for the company in a research report on Wednesday, April 24th. Finally, Citigroup assumed coverage on shares of Xerox in a research report on Friday, June 28th. They issued a sell rating and a $11.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $12.75.

Xerox Stock Up 0.9 %

XRX stock opened at $10.34 on Friday. Xerox has a one year low of $9.51 and a one year high of $19.78. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. The firm’s fifty day moving average is $11.54 and its 200 day moving average is $14.56. The firm has a market cap of $1.28 billion, a PE ratio of -6.59 and a beta of 1.58.

Xerox (NYSE:XRX) last posted its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The company’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, research analysts forecast that Xerox will post 1.88 EPS for the current year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 9.67%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Institutional Investors Weigh In On Xerox

A number of large investors have recently modified their holdings of XRX. Vanguard Group Inc. lifted its position in Xerox by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after buying an additional 190,034 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Xerox by 10.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock worth $29,090,000 after acquiring an additional 153,144 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Xerox by 1.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock worth $19,154,000 after acquiring an additional 15,408 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of Xerox by 3.5% during the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after acquiring an additional 33,590 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new position in shares of Xerox during the 4th quarter valued at about $14,832,000. Hedge funds and other institutional investors 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.