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

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Separately, JPMorgan Chase & Co. lowered their price target on Xerox from $18.00 to $17.00 and set an underweight rating on the stock in a research report on Wednesday, April 24th.

Xerox Stock Down 2.7 %

Shares of Xerox stock opened at $13.53 on Wednesday. The business’s fifty day moving average price is $14.33 and its two-hundred day moving average price is $16.36. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 1.07. The company has a market capitalization of $1.68 billion, a P/E ratio of -8.62 and a beta of 1.63. Xerox has a 1-year low of $12.06 and a 1-year high of $19.78.

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

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date is Friday, June 28th. Xerox’s payout ratio is -63.69%.

Hedge Funds Weigh In On Xerox

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in shares of Xerox in the 4th quarter worth $25,000. FNY Investment Advisers LLC acquired a new position in shares of Xerox in the 4th quarter worth $25,000. Hexagon Capital Partners LLC grew its holdings in shares of Xerox by 38.7% in 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 last quarter. EntryPoint Capital LLC acquired a new position in shares of Xerox in the 1st quarter worth $45,000. Finally, TFO Wealth Partners LLC grew its holdings in shares of Xerox by 30,127.3% in 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 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.