Xerox (NYSE:XRX) Upgraded to “Buy” at StockNews.com

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

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

Xerox Stock Down 1.0 %

Shares of NYSE XRX opened at $16.21 on Tuesday. Xerox has a 52-week low of $12.06 and a 52-week high of $19.78. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -81.05 and a beta of 1.56. The stock has a 50 day moving average price of $17.73 and a 200 day moving average price of $16.29. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.91 and a current ratio of 1.14.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, January 25th. The information technology services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.09). The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Xerox had a return on equity of 9.41% and a net margin of 0.01%. Xerox’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. Sell-side analysts expect that Xerox will post 2.27 earnings per share for the current year.

Xerox Announces Dividend

The business 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 $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 6.17%. Xerox’s dividend payout ratio (DPR) is presently -500.00%.

Institutional Trading of Xerox

Several hedge funds have recently modified their holdings of XRX. Vanguard Group Inc. lifted its position in Xerox by 10.2% during the third quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after acquiring an additional 1,464,851 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Xerox by 520.9% during the 3rd quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock valued at $5,933,000 after purchasing an additional 317,233 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of Xerox in the 3rd quarter worth $2,194,000. Artemis Investment Management LLP purchased a new position in Xerox during the 3rd quarter worth $5,688,000. Finally, State of Alaska Department of Revenue increased its position in Xerox by 402.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 70,433 shares of the information technology services provider’s stock valued at $1,105,000 after buying an additional 56,427 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

About Xerox

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.