Xerox Corp Receives Consensus Recommendation of “Hold” from Analysts (NYSE:XRX)
Shares of Xerox Corp (NYSE:XRX) have been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the stock, AnalystRatings.Net reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.56.
Xerox Corp (NYSE:XRX) opened at 14.04 on Thursday. Xerox Corp has a one year low of $9.55 and a one year high of $14.07. The stock’s 50-day moving average is $13.30 and its 200-day moving average is $12.14. The company has a market cap of $16.190 billion and a price-to-earnings ratio of 15.31. Xerox Corp also was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totalling 15,882,528 shares, an increase of 25.7% from the July 31st total of 12,638,419 shares. Based on an average trading volume of 7,457,305 shares, the days-to-cover 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.
Several analysts have recently commented on the stock. 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.
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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