Shares of Xerox Corporation (NYSE:XRX) have earned a consensus rating of “Buy” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $37.23.
A number of research analysts recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday. Loop Capital reiterated a “buy” rating and issued a $38.00 price target (up from $36.00) on shares of Xerox Corporation in a research report on Wednesday. ValuEngine downgraded shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup Inc. set a $39.00 price target on shares of Xerox Corporation and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays PLC upgraded shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $27.00 to $33.00 in a research report on Monday, July 24th.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Xerox Corporation by 1,831.5% in the first quarter. BlackRock Inc. now owns 69,513,636 shares of the information technology services provider’s stock worth $510,230,000 after buying an additional 65,914,755 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Xerox Corporation by 758.2% in the first quarter. Ameriprise Financial Inc. now owns 7,912,787 shares of the information technology services provider’s stock worth $58,084,000 after buying an additional 6,990,756 shares during the period. KBC Group NV boosted its stake in shares of Xerox Corporation by 163.4% in the first quarter. KBC Group NV now owns 6,901,550 shares of the information technology services provider’s stock worth $50,658,000 after buying an additional 4,281,339 shares during the period. Gotham Asset Management LLC boosted its stake in shares of Xerox Corporation by 2,304.7% in the first quarter. Gotham Asset Management LLC now owns 3,606,346 shares of the information technology services provider’s stock worth $26,471,000 after buying an additional 3,456,374 shares during the period. Finally, Highbridge Capital Management LLC boosted its stake in shares of Xerox Corporation by 843.8% in the fourth quarter. Highbridge Capital Management LLC now owns 3,780,965 shares of the information technology services provider’s stock worth $33,007,000 after buying an additional 3,380,335 shares during the period.
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Shares of Xerox Corporation (NYSE:XRX) traded up 0.37% during midday trading on Tuesday, hitting $32.22. 2,524,646 shares of the stock traded hands. Xerox Corporation has a 52 week low of $24.86 and a 52 week high of $32.54. The firm’s market capitalization is $8.19 billion. The company’s 50-day moving average is $29.19 and its 200 day moving average is $28.76.
Xerox Corporation (NYSE:XRX) last issued its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Analysts anticipate that Xerox Corporation will post $3.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 28th. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.10%. Xerox Corporation’s dividend payout ratio is 12.08%.
About Xerox Corporation
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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