Xerox (NYSE:XRX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

XRX has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Xerox from $11.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. Loop Capital cut their price target on Xerox from $14.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, August 14th. Finally, Morgan Stanley decreased their price objective 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, one has given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Xerox presently has a consensus rating of "Hold" and an average target price of $9.50.

Xerox Price Performance

Shares of XRX stock traded down $0.01 during trading hours on Friday, hitting $8.89. The company's stock had a trading volume of 1,664,045 shares, compared to its average volume of 2,216,393. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. Xerox has a twelve month low of $8.02 and a twelve month high of $19.78. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -0.81 and a beta of 1.59. The business has a fifty day moving average of $10.04 and a 200-day moving average of $11.51.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). The company 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 quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. As a group, equities research analysts anticipate that Xerox will post 1.38 EPS for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox's dividend payout ratio (DPR) is -9.06%.

Institutional Trading of Xerox

A number of institutional investors and hedge funds have recently made changes to their positions in XRX. SummerHaven Investment Management LLC raised its stake in shares of Xerox by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider's stock valued at $551,000 after acquiring an additional 1,110 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Xerox by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 98,961 shares of the information technology services provider's stock valued at $1,771,000 after buying an additional 1,323 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Xerox by 5.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider's stock valued at $278,000 after buying an additional 1,327 shares during the period. 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 acquiring an additional 1,378 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Xerox by 16.2% in the 1st quarter. Covestor Ltd now owns 10,512 shares of the information technology services provider's stock worth $188,000 after acquiring an additional 1,464 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.