Xerox (NYSE:XRX) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a research note published on Tuesday morning.

Separately, JPMorgan Chase & Co. lifted their price objective on Xerox from $16.00 to $18.00 and gave the company an underweight rating in a report on Friday, January 26th.

Xerox Price Performance

Shares of XRX opened at $16.44 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.91 and a debt-to-equity ratio of 1.06. Xerox has a 1 year low of $12.06 and a 1 year high of $19.78. The stock has a market cap of $2.04 billion, a P/E ratio of -82.20 and a beta of 1.56. The stock’s 50-day moving average price is $17.61 and its two-hundred day moving average price is $16.30.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, January 25th. The information technology services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). Xerox had a return on equity of 9.41% and a net margin of 0.01%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the business posted $0.89 EPS. Xerox’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities analysts predict that Xerox will post 2.31 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.08%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s dividend payout ratio (DPR) is presently -500.00%.

Hedge Funds Weigh In On Xerox

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Xerox by 15.1% in the 1st quarter. BlackRock Inc. now owns 15,540,136 shares of the information technology services provider’s stock valued at $239,318,000 after buying an additional 2,033,262 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Xerox by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock worth $247,765,000 after purchasing an additional 1,464,851 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Xerox during the 4th quarter worth approximately $17,470,000. AQR Capital Management LLC increased its position in shares of Xerox by 81.3% during the 1st quarter. AQR Capital Management LLC now owns 1,889,370 shares of the information technology services provider’s stock worth $28,378,000 after purchasing an additional 847,204 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new position in shares of Xerox during the 4th quarter worth approximately $14,832,000. Institutional investors own 85.36% of the company’s stock.

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.