Xerox (NYSE:XRX) Shares Down 4.3% – What’s Next?

Xerox Holdings Co. (NYSE:XRX)’s share price fell 4.3% on Wednesday . The stock traded as low as $8.83 and last traded at $8.76. 203,364 shares changed hands during trading, a decline of 91% from the average session volume of 2,376,585 shares. The stock had previously closed at $9.15.

Analysts Set New Price Targets

Several research firms recently commented on XRX. Morgan Stanley dropped their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

Xerox Price Performance

The company’s 50 day moving average price is $8.94 and its 200-day moving average price is $9.75. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -0.76 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26.

Xerox (NYSE:XRX) last released its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business posted $0.46 EPS. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities research analysts forecast that Xerox Holdings Co. 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. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.88%. Xerox’s dividend payout ratio is -9.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new stake in Xerox during the 3rd quarter worth about $29,000. US Bancorp DE grew its position in shares of Xerox by 42.3% in the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 1,888 shares during the last quarter. KBC Group NV boosted its position in shares of Xerox by 84.5% in the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after acquiring an additional 4,224 shares during the period. Vest Financial LLC acquired a new position in shares of Xerox during the 4th quarter worth approximately $97,000. Finally, Prism Advisors Inc. acquired a new stake in shares of Xerox during the 4th quarter worth $103,000. 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.