Xerox (NYSE:XRX) Stock Price Down 5.1%

Xerox Corp (NYSE:XRX)’s share price traded down 5.1% during mid-day trading on Friday . The company traded as low as $28.18 and last traded at $28.20, 2,598,600 shares changed hands during trading. A decline of 6% from the average session volume of 2,767,680 shares. The stock had previously closed at $29.72.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Xerox from a “hold” rating to a “sell” rating and set a $31.00 target price on the stock. in a report on Thursday. ValuEngine downgraded shares of Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group assumed coverage on shares of Xerox in a research report on Thursday, April 11th. They issued an “outperform” rating and a $42.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Xerox has an average rating of “Hold” and a consensus price target of $35.67.

The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.79. The firm’s 50-day simple moving average is $34.19. The company has a market capitalization of $6.33 billion, a PE ratio of 8.15 and a beta of 1.74.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. Xerox had a net margin of 5.76% and a return on equity of 18.78%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business earned $0.80 EPS. The business’s revenue was down 8.8% on a year-over-year basis. Sell-side analysts anticipate that Xerox Corp will post 3.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.25 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.00 dividend on an annualized basis and a yield of 3.55%. Xerox’s payout ratio is 28.90%.

Institutional investors have recently added to or reduced their stakes in the stock. Gradient Investments LLC grew its holdings in Xerox by 751.0% in the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 736 shares during the period. Coastal Investment Advisors Inc. acquired a new position in Xerox during the second quarter valued at approximately $32,000. CWM LLC lifted its position in Xerox by 57.9% during the second quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 360 shares in the last quarter. Moody National Bank Trust Division acquired a new position in Xerox during the first quarter valued at approximately $35,000. Finally, NuWave Investment Management LLC lifted its position in Xerox by 422.1% during the second quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock valued at $43,000 after buying an additional 992 shares in the last quarter. Hedge funds and other institutional investors own 87.22% of the company’s stock.

Xerox Company Profile (NYSE:XRX)

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

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