Xerox Corp Now Covered by Analysts at Morgan Stanley (XRX)
Analysts at Morgan Stanley assumed coverage on shares of Xerox Corp (NYSE:XRX) in a research report issued to clients and investors on Monday. The firm set an “overweight” rating and a $15.00 price target on the stock. Morgan Stanley’s price target suggests a potential upside of 22.85% from the stock’s previous close.
Shares of Xerox Corp (NYSE:XRX) traded down 1.93% on Monday, hitting $12.21. The stock had a trading volume of 12,000,992 shares. Xerox Corp has a 52 week low of $9.14 and a 52 week high of $13.01. The stock’s 50-day moving average is $12.39 and its 200-day moving average is $11.6. The company has a market cap of $14.253 billion and a P/E ratio of 13.68.
Xerox Corp (NYSE:XRX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that Xerox Corp will post $1.10 earnings per share for the current fiscal year.
A number of other firms have also recently commented on XRX. Analysts at Citigroup Inc. downgraded shares of Xerox Corp from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 1st. Separately, analysts at Argus downgraded shares of Xerox Corp from a “buy” rating to a “hold” rating in a research note on Thursday, June 26th. They noted that the move was a valuation call. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Xerox Corp from $11.00 to $12.00 in a research note on Friday, June 6th. They now have an “underweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Xerox Corp presently has an average rating of “Hold” and a consensus target price of $12.50.
Xerox Corporation provides services and technology to enable its customers from small businesses to large global enterprises to focus on their core business.
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