Xerox (NYSE:XRX) Trading Down 2.6% – Time to Sell?

Shares of Xerox Holdings Co. (NYSE:XRX) dropped 2.6% during mid-day trading on Tuesday . The company traded as low as $9.16 and last traded at $9.20. Approximately 1,264,631 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 2,218,857 shares. The stock had previously closed at $9.45.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Morgan Stanley cut their price target 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Xerox currently has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Stock Down 2.3 %

The business’s fifty day simple moving average is $9.04 and its two-hundred day simple moving average is $10.40. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The company has a market cap of $1.15 billion, a PE ratio of -0.84 and a beta of 1.59.

Xerox (NYSE:XRX) last issued 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 business 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 business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. On average, analysts predict that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Announces Dividend

The business also recently announced 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 of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.83%. Xerox’s dividend payout ratio is currently -9.06%.

Hedge Funds Weigh In On Xerox

A number of hedge funds have recently made changes to their positions in XRX. Pacer Advisors Inc. increased its position in shares of Xerox by 33.2% during the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after purchasing an additional 4,228,806 shares in the last quarter. Geode Capital Management LLC raised its holdings in Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after acquiring an additional 62,947 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Xerox by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after purchasing an additional 107,580 shares during the last quarter. Sound Income Strategies LLC lifted its position in Xerox by 27.9% during the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after buying an additional 225,617 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Xerox by 9.5% during the third quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after buying an additional 69,183 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.