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

StockNews.com cut shares of Xerox (NYSE:XRX) from a buy rating to a hold rating in a report released on Wednesday.

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

Xerox Trading Down 1.3 %

Shares of XRX stock opened at $14.00 on Wednesday. The firm has a market capitalization of $1.74 billion, a P/E ratio of -8.92 and a beta of 1.56. Xerox has a twelve month low of $12.06 and a twelve month high of $19.78. The company has a quick ratio of 0.91, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. The stock’s fifty day simple moving average is $17.23 and its 200 day simple moving average is $16.29.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share 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 the consensus estimate of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The company’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, sell-side analysts predict that Xerox will post 2.21 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.14%. The ex-dividend date is Wednesday, March 27th. Xerox’s payout ratio is presently -63.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Xerox by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after purchasing an additional 1,464,851 shares during the period. American Century Companies Inc. increased its position in Xerox by 520.9% in the 3rd quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock valued at $5,933,000 after buying an additional 317,233 shares in the last quarter. Public Sector Pension Investment Board bought a new stake in Xerox in the 3rd quarter valued at about $2,194,000. State of Alaska Department of Revenue increased its position in Xerox by 402.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 70,433 shares of the information technology services provider’s stock valued at $1,105,000 after buying an additional 56,427 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Xerox by 43.6% in the 3rd quarter. Principal Financial Group Inc. now owns 659,221 shares of the information technology services provider’s stock valued at $10,343,000 after buying an additional 200,124 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.