Xerox (NYSE:XRX) Upgraded at StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a report published on Thursday morning.

Several other equities analysts have also recently commented on the company. JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Xerox has a consensus rating of “Hold” and an average price target of $9.50.

Xerox Price Performance

Shares of NYSE:XRX opened at $9.15 on Thursday. The firm’s 50 day moving average is $8.92 and its two-hundred day moving average is $10.28. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78. The firm has a market capitalization of $1.14 billion, a P/E ratio of -0.83 and a beta of 1.59.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. Analysts anticipate that Xerox will post 1.12 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.93%. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in Xerox during the 3rd quarter valued at $29,000. US Bancorp DE grew its holdings in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 1,888 shares during the last quarter. nVerses Capital LLC acquired a new stake in Xerox in the 2nd quarter valued at about $78,000. Plato Investment Management Ltd increased its holdings 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 in the last quarter. Finally, CWM LLC raised its position in Xerox by 381.3% in the 3rd quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock worth $113,000 after purchasing an additional 8,633 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.