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

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a report issued on Thursday.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley cut their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.50.

Xerox Stock Down 0.2 %

Shares of NYSE:XRX opened at $9.15 on Thursday. The company has a 50 day moving average price of $8.92 and a two-hundred day moving average price of $10.28. The company has a market capitalization of $1.14 billion, a PE ratio of -0.83 and a beta of 1.59. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78. 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 (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. Analysts forecast that Xerox will post 1.12 earnings per share for the current 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 is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.93%. Xerox’s dividend payout ratio (DPR) is -9.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of XRX. Louisiana State Employees Retirement System increased its stake in shares of Xerox by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock worth $668,000 after purchasing an additional 1,500 shares during the period. Panagora Asset Management Inc. increased its position in Xerox by 8.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 342,715 shares of the information technology services provider’s stock worth $3,982,000 after buying an additional 25,819 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Xerox during the second quarter worth $457,000. Mizuho Markets Americas LLC boosted its position in shares of Xerox by 282.4% in the second quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after acquiring an additional 261,180 shares during the period. Finally, nVerses Capital LLC bought a new stake in Xerox in the 2nd quarter valued at about $78,000. 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.