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 report released on Saturday.

Several other equities analysts also recently weighed in on the company. Morgan Stanley dropped their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped 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. Finally, Loop Capital dropped their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Three equities research 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 MarketBeat.com, Xerox has a consensus rating of “Hold” and a consensus target price of $9.50.

Xerox Trading Down 0.1 %

XRX traded down $0.01 on Friday, hitting $8.89. The company had a trading volume of 1,664,045 shares, compared to its average volume of 3,052,585. The firm has a market cap of $1.11 billion, a P/E ratio of 8.63 and a beta of 1.59. Xerox has a 1 year low of $8.02 and a 1 year high of $19.78. The company’s fifty day moving average price is $10.04 and its 200 day moving average price is $11.51. 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 issued its quarterly earnings data 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). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. As a group, equities analysts expect that Xerox will post 1.38 earnings per share for the current year.

Xerox Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 11.25%. The ex-dividend date is Tuesday, December 31st. Xerox’s dividend payout ratio is presently -9.06%.

Hedge Funds Weigh In On Xerox

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in shares of Xerox during the third quarter worth about $498,000. Advisors Asset Management Inc. boosted its holdings in Xerox by 9.5% in the third quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock valued at $8,269,000 after purchasing an additional 69,183 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Xerox in the third quarter valued at approximately $1,626,000. Gladius Capital Management LP acquired a new position in Xerox in the third quarter valued at approximately $29,000. Finally, Empowered Funds LLC boosted its holdings in Xerox by 4.8% in the third quarter. Empowered Funds LLC now owns 560,536 shares of the information technology services provider’s stock valued at $5,818,000 after purchasing an additional 25,590 shares in the last quarter. 85.36% of the stock is 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.