StockNews.com lowered shares of Xerox (NYSE:XRX – Free Report) from a buy rating to a hold rating in a report released on Friday.
Several other brokerages also recently commented on XRX. Citigroup initiated coverage on shares of Xerox in a report on Friday, June 28th. They issued a sell rating and a $11.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of Xerox from $18.00 to $17.00 and set an underweight rating for the company in a report on Wednesday, April 24th.
Xerox Stock Up 2.5 %
Xerox (NYSE:XRX – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a positive return on equity of 7.49% and a negative net margin of 1.60%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. On average, sell-side analysts expect that Xerox will post 1.99 EPS for the current year.
Xerox Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.84%. The ex-dividend date is Friday, June 28th. Xerox’s dividend payout ratio is currently -63.69%.
Institutional Trading of Xerox
Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in Xerox in the fourth quarter worth $25,000. CWM LLC lifted its stake in Xerox by 155.5% in the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Xerox by 38.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 630 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Xerox in the first quarter worth $45,000. Finally, TFO Wealth Partners LLC lifted its stake in Xerox by 30,127.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after purchasing an additional 3,314 shares during the last quarter. 85.36% of the stock is owned by institutional investors.
Xerox Company Profile
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.
Featured Stories
- Five stocks we like better than Xerox
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Survey: Top 175 Fittest Retirement Locations in America
- ESG Stocks, What Investors Should Know
- Kimberly-Clark Stock Dips and a Buying Opportunity Emerges
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Leading Gold Stock Shines With Q2 2024 Earnings Release
Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter.