Xerox (NYSE:XRX) Downgraded by StockNews.com

StockNews.com downgraded shares of Xerox (NYSE:XRX) from a buy rating to a hold rating in a research note released on Wednesday.

Separately, JPMorgan Chase & Co. upped their price target 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

NYSE XRX opened at $14.00 on Wednesday. The stock has a market capitalization of $1.74 billion, a P/E ratio of -8.92 and a beta of 1.56. Xerox has a 1 year low of $12.06 and a 1 year high of $19.78. The business’s fifty day moving average is $17.23 and its two-hundred day moving average is $16.28. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 1.37.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. Xerox’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. On average, research analysts forecast that Xerox will post 2.31 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.14%. The ex-dividend date is Wednesday, March 27th. Xerox’s dividend payout ratio (DPR) is currently -63.69%.

Institutional Trading of Xerox

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Xerox by 10.2% in the third quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock worth $247,765,000 after acquiring an additional 1,464,851 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Xerox in the fourth quarter worth $17,470,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Xerox in the fourth quarter worth $14,832,000. AQR Capital Management LLC increased its stake in shares of Xerox by 43.0% in the third quarter. AQR Capital Management LLC now owns 1,766,610 shares of the information technology services provider’s stock worth $27,718,000 after acquiring an additional 531,173 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Xerox in the fourth quarter worth $9,435,000. 85.36% of the stock is owned by institutional investors and hedge funds.

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.