Xerox (NYSE:XRX) Stock Rating Upgraded by StockNews.com

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

XRX has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased 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. Loop Capital reduced their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, Morgan Stanley dropped their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Xerox presently has an average rating of “Hold” and an average target price of $9.50.

Xerox Price Performance

NYSE:XRX opened at $9.08 on Tuesday. The stock’s 50-day simple moving average is $9.64 and its 200 day simple moving average is $11.11. Xerox has a 52-week low of $8.02 and a 52-week high of $19.78. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market cap of $1.13 billion, a P/E ratio of -0.82 and a beta of 1.59.

Xerox (NYSE:XRX) last announced 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 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 the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that Xerox will post 1.12 EPS for the current fiscal year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.01%. Xerox’s dividend payout ratio (DPR) is currently -9.06%.

Institutional Investors Weigh In On Xerox

Several hedge funds have recently bought and sold shares of XRX. Pacer Advisors Inc. boosted its position in shares of Xerox by 33.2% in the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after acquiring an additional 4,228,806 shares during the period. SG Capital Management LLC acquired a new stake in Xerox in the 1st quarter worth about $8,466,000. Mizuho Markets Americas LLC boosted its holdings in Xerox by 282.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after purchasing an additional 261,180 shares during the period. Sound Income Strategies LLC grew its position in shares of Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Xerox by 55.5% during the third quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after purchasing an additional 167,500 shares during the period. 85.36% of the stock is currently 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.