Xerox Holdings Co. (XRX) to Issue Quarterly Dividend of $0.25 on January 31st

Xerox Holdings Co. (NYSE:XRX) declared a quarterly dividend on Thursday, October 31st,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.25 per share by the information technology services provider on Friday, January 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.93%. The ex-dividend date is Tuesday, December 31st.

Xerox has a payout ratio of 82.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Xerox to earn $1.30 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 76.9%.

Xerox Trading Down 0.2 %

NYSE:XRX opened at $9.15 on Friday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -0.83 and a beta of 1.59. Xerox has a one year low of $8.02 and a one year 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 business’s 50-day simple moving average is $8.92 and its 200 day simple moving average is $10.28.

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 analysts’ consensus estimates of $0.51 by ($0.26). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, sell-side analysts predict that Xerox will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on XRX. Morgan Stanley decreased their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three research 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 data from MarketBeat, Xerox currently has a consensus rating of “Hold” 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.