Xerox Holdings Co. Declares Quarterly Dividend of $0.13 (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) declared a quarterly dividend on Thursday, February 20th,RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.125 per share by the information technology services provider on Wednesday, April 30th. This represents a $0.50 annualized dividend and a dividend yield of 6.31%.

Xerox has a payout ratio of 61.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Xerox to earn $1.39 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 71.9%.

Xerox Trading Down 1.3 %

Shares of XRX traded down $0.11 during trading hours on Thursday, hitting $7.93. The company had a trading volume of 509,765 shares, compared to its average volume of 2,448,271. The firm has a market cap of $985.63 million, a P/E ratio of -0.74 and a beta of 1.59. The stock’s 50 day moving average price is $8.71 and its 200 day moving average price is $9.42. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox has a 52-week low of $7.77 and a 52-week high of $19.48.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on XRX. JPMorgan Chase & Co. reduced their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Morgan Stanley reduced their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $9.50.

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.