Xerox Corp. Rating Lowered to Underweight at Barclays (XRX)
Xerox Corp. (NYSE:XRX) was downgraded by equities research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Friday, Stock Ratings Network.com reports. They currently have a $10.00 price target on the stock. Barclays’ price objective would indicate a potential downside of 14.97% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on XRX. Analysts at Argus reiterated a “buy” rating on shares of Xerox Corp. in a research note to investors on Tuesday, December 10th. They now have a $15.00 price target on the stock, up previously from $13.00. Analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Xerox Corp. in a research note to investors on Wednesday, November 13th. They now have a $11.50 price target on the stock, up previously from $10.50. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.93.
Shares of Xerox Corp. (NYSE:XRX) traded down 3.91% during mid-day trading on Friday, hitting $11.30. The stock had a trading volume of 26,678,186 shares. Xerox Corp. has a 52-week low of $7.75 and a 52-week high of $12.65. The stock’s 50-day moving average is $11.88 and its 200-day moving average is $10.66. The company has a market cap of $13.912 billion and a price-to-earnings ratio of 12.73.
Xerox Corp. (NYSE:XRX) last issued its quarterly earnings data on Friday, January 24th. The company reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts expect that Xerox Corp. will post $1.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of 0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 2.13%.
Xerox Corporation,provides a portfolio of business process and information technology (NYSE:XRX) outsourcing support, document technology and solutions.
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