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

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

Other analysts also recently issued research reports about the stock. Loop Capital decreased their price target on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their target price 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. Finally, Morgan Stanley decreased their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $9.50.

Xerox Stock Performance

Xerox stock opened at $8.43 on Friday. 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 52 week low of $8.02 and a 52 week high of $19.78. The stock has a fifty day moving average price of $9.82 and a 200 day moving average price of $11.31. The firm has a market capitalization of $1.05 billion, a P/E ratio of 8.18 and a beta of 1.59.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share 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 analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period last year, the company posted $0.46 earnings per share. Equities research analysts anticipate that Xerox will post 1.38 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.86%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Institutional Investors Weigh In On Xerox

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its stake in Xerox by 155.5% in the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the period. Gladius Capital Management LP bought a new stake in shares of Xerox in the 3rd quarter worth approximately $29,000. EntryPoint Capital LLC acquired a new position in Xerox during the 1st quarter valued at approximately $45,000. US Bancorp DE grew its stake in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after buying an additional 1,888 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Xerox in the second quarter worth $78,000. 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.