Xerox (NYSE:XRX) Downgraded by StockNews.com

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

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

Xerox Stock Performance

NYSE:XRX opened at $14.00 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 0.91. Xerox has a 1-year low of $12.06 and a 1-year high of $19.78. The firm has a 50-day moving average of $17.23 and a two-hundred day moving average of $16.28. The stock has a market cap of $1.74 billion, a P/E ratio of -8.92 and a beta of 1.56.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, research analysts expect that Xerox will post 2.31 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given 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 7.14%. Xerox’s dividend payout ratio is currently -63.69%.

Institutional Trading of Xerox

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Xerox by 65.0% in the 3rd quarter. SG Americas Securities LLC now owns 76,258 shares of the information technology services provider’s stock worth $1,196,000 after buying an additional 30,045 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Xerox by 402.9% during the third quarter. State of Alaska Department of Revenue now owns 70,433 shares of the information technology services provider’s stock worth $1,105,000 after purchasing an additional 56,427 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of Xerox during the third quarter valued at $818,000. Hexagon Capital Partners LLC grew its holdings in shares of Xerox by 87.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 758 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in Xerox in the third quarter valued at about $654,000. 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.