Xerox (NYSE:XRX) Shares Up 5.1% – What’s Next?

Xerox Holdings Co. (NYSE:XRX) shares were up 5.1% during mid-day trading on Thursday . The company traded as high as $11.01 and last traded at $11.01. Approximately 1,802,746 shares were traded during trading, a decline of 15% from the average daily volume of 2,112,658 shares. The stock had previously closed at $10.48.

Analyst Upgrades and Downgrades

XRX has been the subject of several analyst reports. Citigroup assumed coverage on Xerox in a research note on Friday, June 28th. They set a “sell” rating and a $11.00 price objective for the company. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, Loop Capital decreased their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Xerox has an average rating of “Hold” and an average target price of $12.75.

Xerox Stock Down 2.5 %

The stock has a market cap of $1.34 billion, a P/E ratio of -10.28 and a beta of 1.57. The stock’s 50-day moving average is $10.44 and its 200-day moving average is $12.34. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34.

Xerox (NYSE:XRX) last released its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The business’s revenue was down 10.0% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. As a group, research analysts anticipate that Xerox Holdings Co. will post 1.79 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.27%. The ex-dividend date of this dividend is Monday, September 30th. Xerox’s dividend payout ratio is presently -95.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of XRX. CWM LLC boosted its holdings in Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after buying an additional 1,378 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Xerox in the 1st quarter valued at about $45,000. nVerses Capital LLC bought a new position in shares of Xerox during the 2nd quarter worth approximately $78,000. Plato Investment Management Ltd raised its position in shares of Xerox by 45.0% in the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after purchasing an additional 2,899 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Xerox during the second quarter worth approximately $115,000. 85.36% of the stock is owned by institutional investors and hedge funds.

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.