Xerox Corp Hits New 1-Year High at $13.95 (XRX)
Xerox Corp (NYSE:XRX)’s share price hit a new 52-week high during mid-day trading on Tuesday , Stock Ratings Network.com reports. The company traded as high as $13.95 and last traded at $13.80, with a volume of 2,222,225 shares traded. The stock had previously closed at $13.81.
XRX has been the subject of a number of recent research reports. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Xerox Corp in a research note on Thursday, August 28th. They now have a $15.00 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $13.56.
The stock’s 50-day moving average is $13.22 and its 200-day moving average is $12.07. The company has a market cap of $15.909 billion and a price-to-earnings ratio of 15.04. Xerox Corp also saw a large growth in short interest in August. As of August 15th, there was short interest totalling 15,882,528 shares, a growth of 25.7% from the July 31st total of 12,638,419 shares. Based on an average daily trading volume, of 7,457,305 shares, the short-interest ratio is currently 2.1 days. Currently, 1.5% of the shares of the stock are short sold.
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.
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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