Xerox Corp Sees Large Drop in Short Interest (XRX)
Shares of Xerox Corp (NYSE:XRX) were the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 13,825,969 shares, a decline of 15.0% from the June 30th total of 16,258,819 shares, ARN reports. Approximately 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 7,715,032 shares, the days-to-cover ratio is presently 1.8 days.
In other Xerox Corp news, SVP Herve Tessler unloaded 20,769 shares of Xerox Corp stock on the open market in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $13.12, for a total value of $272,489.28. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on XRX shares. Analysts at Zacks reiterated a “neutral” rating on shares of Xerox Corp in a research note on Friday. They now have a $14.00 price target on the stock. Separately, analysts at Susquehanna raised their price target on shares of Xerox Corp from $14.00 to $16.50 in a research note on Monday, July 28th. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Xerox Corp from an “underweight” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $14.00 price target on the stock, up previously from $13.00. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.56.
Shares of Xerox Corp (NYSE:XRX) opened at 13.13 on Tuesday. Xerox Corp has a 1-year low of $9.55 and a 1-year high of $13.38. The stock’s 50-day moving average is $12.69 and its 200-day moving average is $11.75. The company has a market cap of $15.141 billion and a P/E ratio of 14.20.
Xerox Corp (NYSE:XRX) last released its earnings data on Friday, July 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.31 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 1.8% on a year-over-year basis. On average, analysts predict that Xerox Corp will post $1.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, September 26th.
Xerox Corporationprovides services and technology to enable its customers from small businesses to large global enterprises to focus on their core business.
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