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

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

A number of other analysts have also issued reports on the company. Morgan Stanley decreased their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday. Loop Capital reduced their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, Xerox has an average rating of “Reduce” and an average target price of $9.50.

Xerox Stock Performance

NYSE XRX traded up $0.12 on Friday, hitting $8.29. 4,041,850 shares of the stock traded hands, compared to its average volume of 2,679,519. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -0.75 and a beta of 1.59. The business’s fifty day moving average is $10.27 and its two-hundred day moving average is $11.79. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.13 and a current ratio of 1.26. Xerox has a 12 month low of $8.02 and a 12 month high of $19.78.

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). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. As a group, equities analysts anticipate that Xerox will post 1.55 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 12.06%. Xerox’s dividend payout ratio (DPR) is -9.06%.

Institutional Investors Weigh In On Xerox

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in Xerox by 21.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,079 shares of the information technology services provider’s stock worth $324,000 after purchasing an additional 3,177 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Xerox by 36.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 36,721 shares of the information technology services provider’s stock worth $657,000 after buying an additional 9,896 shares during the last quarter. Capstone Investment Advisors LLC boosted its stake in Xerox by 60.2% in the first quarter. Capstone Investment Advisors LLC now owns 24,741 shares of the information technology services provider’s stock worth $443,000 after buying an additional 9,298 shares in the last quarter. StoneX Group Inc. grew its position in Xerox by 21.0% during the first quarter. StoneX Group Inc. now owns 35,149 shares of the information technology services provider’s stock valued at $638,000 after acquiring an additional 6,098 shares during the last quarter. Finally, WBI Investments LLC purchased a new position in shares of Xerox during the first quarter worth approximately $931,000. 85.36% of the stock is currently owned by institutional investors.

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.