Xerox Corp (NYSE:XRX) Receives Average Rating of “Hold” from Brokerages

Shares of Xerox Corp (NYSE:XRX) have earned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $36.67.

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. cut Xerox from a “neutral” rating to an “underweight” rating and set a $31.00 price target on the stock. in a report on Wednesday, October 30th. ValuEngine cut Xerox from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Xerox from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Sunday, November 3rd. Finally, Credit Suisse Group upped their price target on Xerox from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th.

In related news, EVP Herve Tessler sold 32,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total value of $1,005,284.00. Following the sale, the executive vice president now owns 11,804 shares of the company’s stock, valued at approximately $368,520.88. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of XRX. FMR LLC lifted its stake in Xerox by 358.3% in the 1st quarter. FMR LLC now owns 1,250,108 shares of the information technology services provider’s stock valued at $39,979,000 after buying an additional 977,310 shares in the last quarter. DNB Asset Management AS lifted its stake in Xerox by 100.6% in the 2nd quarter. DNB Asset Management AS now owns 130,187 shares of the information technology services provider’s stock valued at $4,610,000 after buying an additional 65,300 shares in the last quarter. Empirical Finance LLC lifted its stake in Xerox by 1.1% in the 2nd quarter. Empirical Finance LLC now owns 47,186 shares of the information technology services provider’s stock valued at $1,671,000 after buying an additional 515 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Xerox by 2.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 45,936 shares of the information technology services provider’s stock valued at $1,627,000 after buying an additional 979 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its stake in Xerox by 23.4% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 10,867 shares of the information technology services provider’s stock valued at $385,000 after buying an additional 2,058 shares in the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

XRX opened at $38.85 on Friday. The stock has a market cap of $8.17 billion, a P/E ratio of 11.23 and a beta of 1.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $31.02 and its 200 day simple moving average is $32.01. Xerox has a 1-year low of $18.58 and a 1-year high of $39.38.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Xerox had a return on equity of 19.62% and a net margin of 7.28%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. Research analysts expect that Xerox will post 4.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Monday, December 30th. Xerox’s payout ratio is currently 28.90%.

About Xerox

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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