Xerox (NYSE:XRX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a research note published on Thursday morning.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley dropped their price target on Xerox from $10.00 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, one has issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.50.

Xerox Trading Down 0.7 %

Shares of XRX opened at $9.17 on Thursday. Xerox has a 1-year low of $8.02 and a 1-year high of $19.78. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.83 and a beta of 1.59. The firm’s 50-day moving average price is $8.95 and its 200-day moving average price is $10.35. 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 (NYSE:XRX) last posted its 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 firm 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 was down 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. Sell-side analysts anticipate that Xerox will post 1.12 EPS for the current year.

Xerox Dividend Announcement

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.91%. The ex-dividend date is Tuesday, December 31st. Xerox’s payout ratio is currently -9.06%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP bought a new position in shares of Xerox in the third quarter worth about $29,000. US Bancorp DE increased its holdings 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 acquiring an additional 1,888 shares in the last quarter. nVerses Capital LLC bought a new stake in Xerox during the 2nd quarter worth approximately $78,000. Plato Investment Management Ltd lifted its holdings in Xerox by 45.0% during the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after purchasing an additional 2,899 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Xerox by 381.3% in the third quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock worth $113,000 after purchasing an additional 8,633 shares during the period. 85.36% of the stock is currently owned by 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.