Xerox (NYSE:XRX) Upgraded at StockNews.com

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

XRX has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their target price on Xerox from $18.00 to $17.00 and set an underweight rating on the stock in a report on Wednesday, April 24th. Citigroup started coverage on Xerox in a research note on Friday, June 28th. They issued a sell rating and a $11.00 price target on the stock.

Xerox Price Performance

NYSE:XRX opened at $11.61 on Tuesday. The business’s 50-day moving average price is $13.47 and its 200 day moving average price is $16.09. The firm has a market cap of $1.44 billion, a P/E ratio of -7.39 and a beta of 1.58. Xerox has a 52-week low of $11.44 and a 52-week high of $19.78. The company has a quick ratio of 1.07, a current ratio of 1.37 and a debt-to-equity ratio of 1.34.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. Xerox’s revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. As a group, sell-side analysts predict that Xerox will post 2.05 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.61%. Xerox’s dividend payout ratio is currently -63.69%.

Hedge Funds Weigh In On Xerox

Institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new stake in Xerox during the 4th quarter worth about $25,000. GAMMA Investing LLC acquired a new stake in Xerox during the 4th quarter worth about $25,000. Hexagon Capital Partners LLC boosted its position in Xerox by 38.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after acquiring an additional 630 shares during the period. EntryPoint Capital LLC acquired a new stake in Xerox during the 1st quarter worth about $45,000. Finally, TFO Wealth Partners LLC boosted its position in Xerox by 30,127.3% during 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 during the period. Hedge funds and other institutional investors 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.