Xerox (NYSE:XRX) Cut to “Hold” at StockNews.com

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

A number of other analysts also recently weighed in on XRX. Loop Capital decreased their target price 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. Morgan Stanley lowered their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, Xerox has a consensus rating of “Reduce” and an average target price of $9.50.

Xerox Price Performance

XRX stock opened at $8.29 on Friday. The company has a market capitalization of $1.03 billion, a P/E ratio of -0.75 and a beta of 1.59. The company has a fifty day moving average price of $10.27 and a 200-day moving average price of $11.76. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.13 and a current ratio of 1.26. Xerox has a 52-week low of $8.02 and a 52-week high of $19.78.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities analysts expect that Xerox will post 1.55 EPS for the current year.

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.06%. Xerox’s payout ratio is presently -9.06%.

Institutional Investors Weigh In On Xerox

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of Xerox by 21.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,079 shares of the information technology services provider’s stock worth $324,000 after purchasing an additional 3,177 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Xerox by 36.9% in the first quarter. Janney Montgomery Scott LLC now owns 36,721 shares of the information technology services provider’s stock valued at $657,000 after acquiring an additional 9,896 shares during the period. Capstone Investment Advisors LLC increased its holdings in shares of Xerox by 60.2% during the first quarter. Capstone Investment Advisors LLC now owns 24,741 shares of the information technology services provider’s stock valued at $443,000 after acquiring an additional 9,298 shares in the last quarter. StoneX Group Inc. raised its position in shares of Xerox by 21.0% during the first quarter. StoneX Group Inc. now owns 35,149 shares of the information technology services provider’s stock worth $638,000 after purchasing an additional 6,098 shares during the period. Finally, WBI Investments LLC bought a new position in shares of Xerox in the 1st quarter worth $931,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.