Xerox Holdings Co. (NYSE:XRX) Plans Quarterly Dividend of $0.25

Xerox Holdings Co. (NYSE:XRX) announced a quarterly dividend on Thursday, October 31st, RTT News reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.25 per share by the information technology services provider on Friday, January 31st. This represents a $1.00 annualized dividend and a yield of 12.24%.

Xerox has a payout ratio of 58.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Xerox to earn $1.76 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 56.8%.

Xerox Stock Down 0.7 %

Shares of XRX opened at $8.17 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.13 and a current ratio of 1.26. The company has a 50-day simple moving average of $10.37 and a 200-day simple moving average of $11.88. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78. The firm has a market capitalization of $1.02 billion, a P/E ratio of 7.99 and a beta of 1.57.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.28). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The company’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS. On average, equities research analysts expect that Xerox will post 1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday. Loop Capital dropped their price target on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Morgan Stanley cut their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.50.

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.