Xerox (NYSE:XRX) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Xerox (NYSE:XRX) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

XRX has been the topic of several other research reports. Morgan Stanley decreased their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Stock Performance

XRX opened at $9.34 on Friday. Xerox has a 12-month low of $8.02 and a 12-month high of $19.78. The firm has a market capitalization of $1.16 billion, a P/E ratio of -0.85 and a beta of 1.59. The stock’s 50 day moving average price is $8.80 and its two-hundred day moving average price is $9.83. 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 data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business posted $0.46 EPS. Xerox’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities analysts forecast that Xerox will post 1.12 earnings per share for the current year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.71%. The ex-dividend date is Tuesday, December 31st. Xerox’s dividend payout ratio is -9.06%.

Hedge Funds Weigh In On Xerox

Institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP bought a new position in Xerox in the 3rd quarter valued at $29,000. US Bancorp DE raised its position in Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 1,888 shares during the last quarter. CWM LLC raised its position in shares of Xerox by 381.3% during the third quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock worth $113,000 after acquiring an additional 8,633 shares during the last quarter. Algert Global LLC bought a new stake in shares of Xerox during the second quarter worth $138,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Xerox by 24.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider’s stock worth $183,000 after acquiring an additional 3,444 shares during the last quarter. Institutional investors 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.