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

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

Separately, JPMorgan Chase & Co. raised their target price on Xerox from $16.00 to $18.00 and gave the company an underweight rating in a research note on Friday, January 26th.

Xerox Price Performance

Shares of NYSE XRX opened at $14.00 on Wednesday. Xerox has a 1-year low of $12.06 and a 1-year high of $19.78. The firm has a market capitalization of $1.74 billion, a PE ratio of -8.92 and a beta of 1.56. The business’s fifty day moving average price is $17.23 and its two-hundred day moving average price is $16.29. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 0.91.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $0.49 EPS. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, research analysts expect that Xerox will post 2.21 EPS for the current year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.25 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.14%. Xerox’s dividend payout ratio (DPR) is -63.69%.

Hedge Funds Weigh In On Xerox

A number of hedge funds and other institutional investors have recently modified their holdings of XRX. FNY Investment Advisers LLC purchased a new stake in Xerox in the 4th quarter worth about $25,000. GAMMA Investing LLC purchased a new stake in Xerox in the 4th quarter worth about $25,000. Hexagon Capital Partners LLC lifted its stake in Xerox by 87.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 758 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in Xerox by 30,127.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after acquiring an additional 3,314 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Xerox by 1,733.2% in the 4th quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 4,333 shares in the last quarter. Institutional investors and hedge funds 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.