Xerox (NYSE:XRX) Downgraded by StockNews.com to Hold

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

Separately, JPMorgan Chase & Co. raised 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

Shares of XRX opened at $14.38 on Wednesday. The stock’s 50-day simple moving average is $17.42 and its 200 day simple moving average is $16.30. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 10.62 and a beta of 1.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 1.37. Xerox has a 52-week low of $12.06 and a 52-week high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings data 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). The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Research analysts forecast that Xerox will post 2.31 EPS for the current fiscal year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 6.95%. Xerox’s payout ratio is currently -63.69%.

Institutional Trading of Xerox

Several institutional investors and hedge funds have recently modified their holdings of XRX. FNY Investment Advisers LLC purchased a new stake in shares of Xerox in the 4th quarter valued at about $25,000. GAMMA Investing LLC bought a new position in shares of Xerox during the 4th quarter valued at about $25,000. Hexagon Capital Partners LLC increased its position in shares of Xerox by 87.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 758 shares during the last quarter. TFO Wealth Partners LLC increased its position in shares of Xerox by 30,127.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after purchasing an additional 3,314 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Xerox by 1,733.2% during the 4th quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 4,333 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.