Xerox Holdings Co. (NYSE:XRX) Plans Quarterly Dividend of $0.13

Xerox Holdings Co. (NYSE:XRX) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.125 per share by the information technology services provider on Wednesday, April 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.37%.

Xerox has a payout ratio of 61.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Xerox to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 71.9%.

Xerox Stock Performance

XRX opened at $7.85 on Friday. The firm has a market cap of $976.30 million, a P/E ratio of -0.73 and a beta of 1.59. Xerox has a 1-year low of $7.77 and a 1-year high of $19.48. The company has a 50 day simple moving average of $8.70 and a two-hundred day simple moving average of $9.41. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Wall Street Analysts Forecast Growth

XRX has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $9.50.

About Xerox

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.