Xerox Corp. (NYSE:XRX) Receives $10.92 Consensus Price Target from Brokerages
Shares of Xerox Corp. (NYSE:XRX) have been given an average recommendation of “Hold” by the thirteen research firms that are covering the stock. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.92.
A number of brokerages have commented on XRX. Vetr cut Xerox Corp. from a “strong-buy” rating to a “hold” rating and set a $9.96 target price for the company. in a report on Tuesday, September 13th. SunTrust Banks Inc. initiated coverage on Xerox Corp. in a research report on Tuesday, September 13th. They issued a “buy” rating and a $13.00 price target for the company. Barclays PLC restated an “underweight” rating and issued a $11.00 price target (up from $10.00) on shares of Xerox Corp. in a research report on Tuesday, August 2nd. BMO Capital Markets upped their price target on Xerox Corp. from $10.00 to $10.50 and gave the company a “market perform” rating in a research report on Monday, August 1st. Finally, Brean Capital restated a “hold” rating on shares of Xerox Corp. in a research report on Monday, August 1st.
In other news, Chairman Ursula M. Burns sold 3,317 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $9.85, for a total transaction of $32,672.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Herve Tessler sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $9.89, for a total value of $128,570.00. Following the transaction, the insider now owns 110,319 shares of the company’s stock, valued at $1,091,054.91. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in XRX. CIBC World Markets Inc. purchased a new position in Xerox Corp. during the second quarter valued at approximately $101,000. Raymond James Trust N.A. raised its position in Xerox Corp. by 10.2% in the second quarter. Raymond James Trust N.A. now owns 11,703 shares of the company’s stock valued at $111,000 after buying an additional 1,088 shares in the last quarter. Eaton Vance Management raised its position in Xerox Corp. by 0.7% in the second quarter. Eaton Vance Management now owns 11,873 shares of the company’s stock valued at $113,000 after buying an additional 88 shares in the last quarter. Ifrah Financial Services Inc. purchased a new position in Xerox Corp. during the second quarter valued at approximately $116,000. Finally, Shelton Capital Management raised its position in Xerox Corp. by 19.4% in the second quarter. Shelton Capital Management now owns 12,310 shares of the company’s stock valued at $117,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.
Shares of Xerox Corp. (NYSE:XRX) opened at 10.18 on Tuesday. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 26.58 and a beta of 1.36. The firm’s 50-day moving average price is $9.83 and its 200-day moving average price is $9.97. Xerox Corp. has a 12 month low of $8.48 and a 12 month high of $11.39.
Xerox Corp. (NYSE:XRX) last announced its earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. Xerox Corp. had a return on equity of 12.36% and a net margin of 2.49%. The business earned $4.40 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s revenue was down 69.8% compared to the same quarter last year. Equities research analysts expect that Xerox Corp. will post $1.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.0775 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.31 annualized dividend and a dividend yield of 3.05%. Xerox Corp.’s dividend payout ratio is currently 75.61%.
About Xerox Corp.
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
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