Xerox (NYSE:XRX) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a report published on Tuesday morning.

Separately, JPMorgan Chase & Co. increased their price objective on Xerox from $16.00 to $18.00 and gave the company an underweight rating in a research note on Friday, January 26th.

Xerox Trading Down 1.0 %

Shares of XRX opened at $16.21 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.91 and a current ratio of 1.14. Xerox has a fifty-two week low of $12.06 and a fifty-two week high of $19.78. The firm has a 50 day moving average price of $17.73 and a 200-day moving average price of $16.29. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -81.05 and a beta of 1.56.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, January 25th. The information technology services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). Xerox had a net margin of 0.01% and a return on equity of 9.41%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the business posted $0.89 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts forecast that Xerox will post 2.27 earnings per share for the current year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.17%. Xerox’s dividend payout ratio is presently -500.00%.

Institutional Investors Weigh In On Xerox

Several institutional investors and hedge funds have recently bought and sold shares of XRX. BlackRock Inc. lifted its stake in Xerox by 15.1% in the first quarter. BlackRock Inc. now owns 15,540,136 shares of the information technology services provider’s stock worth $239,318,000 after acquiring an additional 2,033,262 shares during the period. Vanguard Group Inc. boosted its position in Xerox by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after acquiring an additional 1,464,851 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Xerox during the 4th quarter worth approximately $17,470,000. AQR Capital Management LLC raised its position in shares of Xerox by 81.3% in the 1st quarter. AQR Capital Management LLC now owns 1,889,370 shares of the information technology services provider’s stock worth $28,378,000 after acquiring an additional 847,204 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of Xerox in the 4th quarter valued at approximately $14,832,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Company Profile

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.