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

StockNews.com lowered shares of Xerox (NYSE:XRX - Free Report) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

Several other brokerages have also commented on XRX. JPMorgan Chase & Co. dropped their price target on shares of Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley lowered their price objective on 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 reduced their price target on shares of Xerox from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $9.50.

Xerox Stock Up 0.5 %

NYSE:XRX traded up $0.04 during trading hours on Friday, hitting $8.43. 1,200,521 shares of the company's stock traded hands, compared to its average volume of 3,099,019. The stock's fifty day moving average price is $9.82 and its two-hundred day moving average price is $11.32. The firm has a market cap of $1.05 billion, a P/E ratio of 8.18 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. Xerox has a twelve month low of $8.02 and a twelve month high of $19.78.

Xerox (NYSE:XRX - Get Free Report) last issued its earnings results 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company earned $0.46 EPS. Xerox's revenue for the quarter was down 7.5% on a year-over-year basis. On average, research analysts expect that Xerox will post 1.38 earnings per share for the current fiscal year.

Xerox Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.86%. Xerox's payout ratio is currently -9.06%.

Institutional Investors Weigh In On Xerox

Large investors have recently bought and sold shares of the company. 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 worth $26,000 after buying an additional 1,378 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Xerox in the 3rd quarter worth about $29,000. EntryPoint Capital LLC bought a new stake in shares of Xerox in the first quarter valued at approximately $45,000. US Bancorp DE grew its position in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock worth $66,000 after buying an additional 1,888 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Xerox during the 2nd quarter worth $78,000. Institutional investors own 85.36% of the company's stock.

About Xerox

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.