Xerox (NYSE:XRX) Upgraded at StockNews.com

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

XRX has been the subject of a number of other research reports. 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. JPMorgan Chase & Co. cut their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.50.

Xerox Stock Performance

Xerox stock opened at $9.06 on Tuesday. The company has a market cap of $1.13 billion, a PE ratio of -0.82 and a beta of 1.59. Xerox has a 12 month low of $8.02 and a 12 month high of $19.78. The company has a fifty day moving average price of $9.58 and a two-hundred day moving average price of $11.06. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95.

Xerox (NYSE:XRX) last released its quarterly earnings data 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). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $0.46 EPS. The firm’s revenue was down 7.5% on a year-over-year basis. Research analysts expect that Xerox will post 1.12 earnings per share for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.04%. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Hedge Funds Weigh In On Xerox

Several institutional investors and hedge funds have recently added to or reduced their stakes in XRX. CWM LLC increased its holdings in shares of Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 1,378 shares during the period. Gladius Capital Management LP purchased a new position in Xerox in the third quarter valued at about $29,000. US Bancorp DE increased its position in Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 1,888 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Xerox during the 2nd quarter worth about $78,000. Finally, Plato Investment Management Ltd grew its position in Xerox by 45.0% in the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock worth $109,000 after acquiring an additional 2,899 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.