Xerox (NYSE:XRX) Trading Down 2.6% – Here’s Why

Xerox Holdings Co. (NYSE:XRX) shares were down 2.6% during trading on Tuesday . The company traded as low as $9.16 and last traded at $9.20. Approximately 1,264,631 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 2,218,857 shares. The stock had previously closed at $9.45.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley cut their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Thursday. Three 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Stock Down 2.3 %

The company has a market cap of $1.15 billion, a price-to-earnings ratio of -0.84 and a beta of 1.59. The firm’s 50 day simple moving average is $8.99 and its 200 day simple moving average is $10.35. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. Sell-side analysts anticipate that Xerox Holdings Co. will post 1.12 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. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Institutional Investors Weigh In On Xerox

A number of institutional investors have recently added to or reduced their stakes in XRX. Advisors Asset Management Inc. raised its stake in shares of Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after buying an additional 69,183 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Xerox by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after acquiring an additional 107,580 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of 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 valued at $2,081,000 after purchasing an additional 76,886 shares in the last quarter. Royce & Associates LP grew its stake in shares of Xerox by 16.9% in the 3rd quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after purchasing an additional 107,127 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings 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 worth $10,728,000 after purchasing an additional 225,617 shares in the last quarter. 85.36% of the stock is currently 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.