StockNews.com Begins Coverage on Xerox (NYSE:XRX)

StockNews.com initiated coverage on shares of Xerox (NYSE:XRX – Get Rating) in a research report report published on Thursday. The brokerage issued a buy rating on the information technology services provider’s stock.

Several other research analysts also recently commented on the stock. Loop Capital lifted their price target on shares of Xerox from $15.00 to $17.00 in a research note on Monday, January 30th. TheStreet upgraded shares of Xerox from a d+ rating to a c- rating in a report on Wednesday, February 1st. Four equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Reduce and an average price target of $13.00.

Xerox Trading Down 3.8 %

Shares of XRX opened at $14.62 on Thursday. The company has a market capitalization of $2.29 billion, a P/E ratio of -6.74 and a beta of 1.68. Xerox has a 1-year low of $11.80 and a 1-year high of $20.99. The firm’s 50 day simple moving average is $16.47 and its 200 day simple moving average is $15.65. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.23 and a quick ratio of 0.99.

Xerox (NYSE:XRX – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The information technology services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.54 by $0.35. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. Xerox had a negative net margin of 4.53% and a positive return on equity of 5.15%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Sell-side analysts forecast that Xerox will post 1.21 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.84%. The ex-dividend date is Thursday, March 30th. Xerox’s dividend payout ratio (DPR) is currently -46.08%.

Institutional Trading of Xerox

Several large investors have recently added to or reduced their stakes in XRX. Ronald Blue Trust Inc. boosted its holdings in shares of Xerox by 55.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,873 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 668 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Xerox by 654.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,219 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 1,925 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Xerox during the 2nd quarter valued at $31,000. Point72 Hong Kong Ltd bought a new stake in shares of Xerox during the 3rd quarter valued at $48,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Xerox by 64.4% during the 3rd quarter. Lazard Asset Management LLC now owns 5,421 shares of the information technology services provider’s stock valued at $70,000 after buying an additional 2,123 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

About Xerox

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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.