StockNews.com Upgrades Xerox (NYSE:XRX) to “Buy”

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

XRX has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Loop Capital cut their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Three investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Xerox Price Performance

Shares of Xerox stock opened at $9.14 on Tuesday. The firm has a market cap of $1.14 billion, a PE ratio of -0.83 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 quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The company’s fifty day simple moving average is $9.54 and its two-hundred day simple moving average is $11.05.

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

Xerox Announces Dividend

The firm 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.94%. Xerox’s dividend payout ratio (DPR) is currently -9.06%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of XRX. CWM LLC lifted its position in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the period. Gladius Capital Management LP purchased a new position in Xerox during the 3rd quarter valued at about $29,000. US Bancorp DE lifted its position in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares during the period. nVerses Capital LLC purchased a new position in Xerox during the 2nd quarter valued at about $78,000. Finally, Plato Investment Management Ltd lifted its position in Xerox by 45.0% during the 2nd quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after acquiring an additional 2,899 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Xerox Company Profile

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.