Xerox (NYSE:XRX) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Xerox (NYSE:XRX) from a buy rating to a hold rating in a research note published on Sunday.

Other analysts also recently issued research reports about the company. Loop Capital lowered their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Morgan Stanley dropped 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, JPMorgan Chase & Co. decreased their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three 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, Xerox has a consensus rating of “Reduce” and an average price target of $9.50.

Xerox Stock Performance

Shares of XRX opened at $8.39 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market cap of $1.04 billion, a P/E ratio of -0.76 and a beta of 1.59. The firm’s 50 day moving average price is $9.72 and its two-hundred day moving average price is $11.22. Xerox has a twelve month low of $8.02 and a twelve month high of $19.78.

Xerox (NYSE:XRX) last issued 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). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the business earned $0.46 earnings per share. Xerox’s revenue was down 7.5% compared to the same quarter last year. On average, analysts forecast that Xerox will post 1.38 EPS for the current fiscal year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.92%. Xerox’s dividend payout ratio (DPR) is -9.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Capital Management LLC bought a new stake in shares of Xerox during the 1st quarter valued at $8,466,000. AQR Capital Management LLC grew its holdings in Xerox by 75.2% during the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock worth $2,081,000 after acquiring an additional 76,886 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Xerox in the first quarter worth $4,066,000. Sound Income Strategies LLC grew its position in shares of Xerox by 27.9% in the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after buying an additional 225,617 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Xerox by 1,960.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock valued at $1,694,000 after buying an additional 155,244 shares during the period. Institutional investors and hedge funds 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.