Xerox Corp Reaches New 12-Month High Following Insider Buying Activity (XRX)
Xerox Corp (NYSE:XRX) shares reached a new 52-week high during trading on Monday following insider buying activity, American Banking and Market News reports. The company traded as high as $13.41 and last traded at $13.38, with a volume of 3,108,421 shares. The stock had previously closed at $13.19.
Specifically, EVP Robert K. Zapfel acquired 40,000 shares of Xerox Corp stock on the open market in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $12.94 per share, for a total transaction of $517,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Xerox Corp in a research note on Friday, August 1st. 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 assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.56.
The stock has a 50-day moving average of $12.73 and a 200-day moving average of $11.79. The company has a market cap of $15.406 billion and a price-to-earnings ratio of 14.37.
Xerox Corp (NYSE:XRX) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts expect that Xerox Corp will post $1.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend 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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