Xerox (NYSE:XRX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other equities research analysts also recently commented on the stock. Loop Capital reduced their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley cut their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.50.

Xerox Stock Down 3.1 %

Xerox stock opened at $8.67 on Friday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -0.79 and a beta of 1.59. 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 stock has a 50 day moving average of $9.94 and a two-hundred day moving average of $11.42. Xerox has a twelve month low of $8.02 and a twelve month high of $19.78.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was down 7.5% on a year-over-year basis. As a group, research analysts expect that Xerox will post 1.38 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 11.53%. Xerox’s dividend payout ratio is presently -9.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Xerox by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after acquiring an additional 107,580 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Xerox by 33.2% in the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after purchasing an additional 4,228,806 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Xerox during the 3rd quarter worth approximately $498,000. Advisors Asset Management Inc. raised its position in shares of Xerox by 9.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after purchasing an additional 69,183 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Xerox in the 3rd quarter valued at approximately $1,626,000. Hedge funds and other institutional investors 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.