Xerox (XRX) – Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Xerox (NYSE: XRX) recently:

  • 2/10/2018 – Xerox was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $35.00 price target on the stock. According to Zacks, “Xerox reported year-over-year growth in revenues and adjusted earnings per share in fourth-quarter 2017. Xerox has announced plans to merge with Fuji Xerox joint venture. There is uncertainty about the positive effects of the merger as the market lacks clarity about how the business will pan out. However, the company has outperformed the industry in the last three months. The company continues to grow globally through successful acquisitions and disposal of non-core assets. It is executing a three-year strategic transformation program to target incremental savings of $600 million across all segments. To better adapt to the changing market trends, Xerox is continually expanding indirect distribution channels and streamlining its supply chain and product portfolio. It is reprioritizing investments and accelerating its restructuring actions to improve revenue and margin. It aims to focus on organic improvements and services for the next few quarters.”
  • 2/5/2018 – Xerox was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating.
  • 2/3/2018 – Xerox was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Xerox reported year-over-year growth in revenues and adjusted earnings per share in fourth-quarter 2017. Xerox has announced that it will merge with Fuji Xerox joint venture. There is uncertainty about the positive effects of the merger as the market lacks clarity about how the business will pan out. Also, Xerox is grappling with decreased demand for paper-related systems and products. A geopolitical impasse due to various conflicts and disruptions may further affect its international operations in key markets. The availability of a large number of substitutes remains another challenge. Stiff competition has also largely affected its profit margins. However, the company has outperformed the industry in the last three months. Also, to better adapt to the changing market trends, Xerox is continually shifting its business model by expanding indirect distribution channel and streamlining its supply chain and product portfolio.”
  • 2/1/2018 – Xerox had its “buy” rating reaffirmed by analysts at Loop Capital.
  • 1/31/2018 – Xerox had its “hold” rating reaffirmed by analysts at Standpoint Research.

Xerox Corp (XRX) opened at $29.61 on Monday. The firm has a market capitalization of $7,539.09, a price-to-earnings ratio of 47.00 and a beta of 1.13. The company has a current ratio of 1.91, a quick ratio of 1.57 and a debt-to-equity ratio of 0.99. Xerox Corp has a twelve month low of $26.64 and a twelve month high of $37.42.

Xerox (NYSE:XRX) last released its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.08. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Xerox had a return on equity of 17.13% and a net margin of 1.67%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 EPS. research analysts predict that Xerox Corp will post 3.43 earnings per share for the current year.

In related news, insider Carl C. Icahn sold 140,011 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $32.50, for a total transaction of $4,550,357.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl C. Icahn sold 1,161,404 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $34.49, for a total value of $40,056,823.96. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

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