Shares of Xerox Corporation (NYSE:XRX) have been assigned an average recommendation of “Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $36.51.
A number of brokerages have recently commented on XRX. BidaskClub upgraded Xerox Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research cut Xerox Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Morgan Stanley dropped their price objective on Xerox Corporation to $32.00 and set an “overweight” rating for the company in a report on Friday, June 16th. ValuEngine cut Xerox Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Barclays PLC upgraded Xerox Corporation from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $27.00 to $33.00 in a report on Monday.
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In other Xerox Corporation news, insider Yehia Abouelmaaty Omar sold 29,375 shares of Xerox Corporation stock in a transaction on Monday, May 1st. The stock was sold at an average price of $7.09, for a total transaction of $208,268.75. Following the completion of the sale, the insider now directly owns 15,903 shares of the company’s stock, valued at approximately $112,752.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.
A number of large investors have recently modified their holdings of XRX. Paragon Capital Management Ltd purchased a new position in shares of Xerox Corporation during the first quarter worth about $245,000. United Asset Strategies Inc. purchased a new position in shares of Xerox Corporation during the first quarter worth about $107,000. Vident Investment Advisory LLC boosted its position in shares of Xerox Corporation by 47.8% in the fourth quarter. Vident Investment Advisory LLC now owns 15,011 shares of the information technology services provider’s stock worth $131,000 after buying an additional 4,852 shares in the last quarter. Cypress Wealth Advisors LLC boosted its position in shares of Xerox Corporation by 42.8% in the first quarter. Cypress Wealth Advisors LLC now owns 15,035 shares of the information technology services provider’s stock worth $110,000 after buying an additional 4,508 shares in the last quarter. Finally, National Asset Management Inc. purchased a new position in shares of Xerox Corporation during the first quarter worth about $113,000.
Xerox Corporation (NYSE:XRX) traded up 1.54% during midday trading on Tuesday, hitting $31.03. The stock had a trading volume of 5,446,689 shares. Xerox Corporation has a 52 week low of $22.90 and a 52 week high of $31.16. The firm’s market cap is $7.89 billion. The firm has a 50 day moving average of $28.69 and a 200 day moving average of $28.63.
Xerox Corporation (NYSE:XRX) last announced its earnings results on Tuesday, April 25th. The information technology services provider reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.04. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Xerox Corporation had a return on equity of 14.28% and a net margin of 3.87%. Xerox Corporation’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. Equities research analysts predict that Xerox Corporation will post $3.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. This represents a $1.00 dividend on an annualized basis and a yield of 3.22%. Xerox Corporation’s payout ratio is 12.25%.
Xerox Corporation Company Profile
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.
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