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 report issued on Saturday.

A number of other brokerages have also commented on XRX. Morgan Stanley dropped their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Loop Capital dropped their price target on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. reduced their price objective 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 analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

Xerox Stock Performance

Shares of Xerox stock opened at $8.95 on Friday. Xerox has a 12 month low of $8.02 and a 12 month high of $19.78. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $1.11 billion, a PE ratio of -0.81 and a beta of 1.59. The stock’s fifty day simple moving average is $9.99 and its 200 day simple moving average is $11.45.

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 the consensus estimate of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm earned $0.46 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, research analysts predict that Xerox will post 1.38 EPS for the current year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.17%. Xerox’s dividend payout ratio is -9.06%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of Xerox in the 1st quarter valued at about $1,206,000. SG Capital Management LLC bought a new position in Xerox during the first quarter worth about $8,466,000. Mizuho Markets Americas LLC acquired a new position in Xerox during the first quarter worth approximately $1,656,000. AQR Capital Management LLC raised its stake in Xerox by 75.2% in the second quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock valued at $2,081,000 after buying an additional 76,886 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Xerox in the first quarter valued at approximately $4,066,000. 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.