Xerox Holdings Co. (XRX) To Go Ex-Dividend on June 28th

Xerox Holdings Co. (NYSE:XRX) announced a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.25 per share by the information technology services provider on Wednesday, July 31st. This represents a $1.00 annualized dividend and a dividend yield of 7.22%. The ex-dividend date of this dividend is Friday, June 28th.

Xerox has a dividend payout ratio of 44.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Xerox to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 44.2%.

Xerox Price Performance

XRX stock opened at $13.86 on Friday. Xerox has a 52-week low of $12.06 and a 52-week high of $19.78. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 9.97 and a beta of 1.61. The company has a quick ratio of 1.07, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. The stock’s fifty day simple moving average is $15.52 and its 200-day simple moving average is $16.31.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business posted $0.49 EPS. Xerox’s revenue was down 12.8% compared to the same quarter last year. Equities research analysts expect that Xerox will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on XRX. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. cut their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.