Xerox Holdings Co. (NYSE:XRX - Get Free Report) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Monday, March 31st will be paid 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 6.34%. The ex-dividend date is Monday, March 31st.
Xerox has a payout ratio of 61.3% meaning 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 Price Performance
XRX traded up $0.04 during trading hours on Friday, hitting $7.89. The company's stock had a trading volume of 3,754,013 shares, compared to its average volume of 2,598,392. The stock has a market cap of $981.28 million, a price-to-earnings ratio of -0.73 and a beta of 1.59. The business's 50-day moving average price is $8.68 and its 200-day moving average price is $9.39. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. Xerox has a 12 month low of $7.70 and a 12 month high of $19.48.
Wall Street Analyst Weigh In
XRX has been the subject of a number of analyst reports. StockNews.com downgraded shares of Xerox from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Morgan Stanley lowered their price objective on Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Wednesday, October 30th. Finally, 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 report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $9.50.
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About Xerox
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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.
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