StockNews.com Downgrades Xerox (NYSE:XRX) to Hold

StockNews.com lowered shares of Xerox (NYSE:XRX) 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 %

XRX opened at $11.31 on Friday. The company has a 50 day moving average of $12.68 and a 200 day moving average of $15.31. The company has a market cap of $1.40 billion, a PE ratio of -7.20 and a beta of 1.58. Xerox has a 12 month low of $10.28 and a 12 month high of $19.78. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.48.

Xerox (NYSE:XRX) 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.