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 note released on Tuesday morning.

A number of other brokerages have also recently weighed in on XRX. JPMorgan Chase & Co. dropped their price objective on shares of Xerox from $18.00 to $17.00 and set an underweight rating for the company in a report on Wednesday, April 24th. Citigroup initiated coverage on shares of Xerox in a report on Friday, June 28th. They issued a sell rating and a $11.00 price objective for the company.

Xerox Price Performance

Shares of XRX opened at $11.73 on Tuesday. Xerox has a 1-year low of $11.44 and a 1-year high of $19.78. The stock has a market cap of $1.46 billion, a PE ratio of -7.47 and a beta of 1.58. The firm has a 50-day simple moving average of $13.57 and a two-hundred day simple moving average of $16.15. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 1.07.

Xerox (NYSE:XRX) last announced its quarterly earnings results 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). Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. Xerox’s revenue was down 12.8% on a year-over-year basis. As a group, analysts forecast that Xerox will post 2.05 EPS for the current year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.53%. The ex-dividend date is Friday, June 28th. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Xerox during the 4th quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in shares of Xerox during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC lifted its position in shares of 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 buying an additional 630 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Xerox during the 1st quarter worth approximately $45,000. Finally, TFO Wealth Partners LLC lifted its position in shares of 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 buying an additional 3,314 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Xerox

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.