Shares of Xerox Corporation (NYSE:XRX) have received a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $35.50.
A number of equities analysts have commented on XRX shares. Barclays PLC raised shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $27.00 to $33.00 in a research report on Monday, July 24th. Loop Capital started coverage on shares of Xerox Corporation in a research report on Monday, July 24th. They set a “buy” rating and a $36.00 price objective for the company. ValuEngine cut shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Citigroup Inc. set a $39.00 price objective on shares of Xerox Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group lifted their price objective on shares of Xerox Corporation from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd.
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Xerox Corporation (NYSE:XRX) opened at $28.50 on Tuesday. Xerox Corporation has a 52 week low of $25.84 and a 52 week high of $39.08. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.97. The firm has a market cap of $7,220.00, a price-to-earnings ratio of 8.44 and a beta of 1.14.
Xerox Corporation (NYSE:XRX) last released its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Xerox Corporation had a net margin of 5.29% and a return on equity of 17.23%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business earned $0.84 earnings per share. The firm’s revenue was down 5.0% on a year-over-year basis. research analysts anticipate that Xerox Corporation will post 3.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, December 28th. Xerox Corporation’s dividend payout ratio is currently 47.17%.
In other news, EVP Herve Tessler sold 6,000 shares of Xerox Corporation stock in a transaction on Monday, November 13th. The stock was sold at an average price of $28.59, for a total transaction of $171,540.00. Following the completion of the sale, the executive vice president now owns 35,878 shares of the company’s stock, valued at $1,025,752.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Xerox Corporation by 22.4% in the third quarter. Bank of New York Mellon Corp now owns 8,622,287 shares of the information technology services provider’s stock valued at $287,036,000 after purchasing an additional 1,578,302 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Xerox Corporation by 7.7% in the third quarter. Dimensional Fund Advisors LP now owns 5,065,082 shares of the information technology services provider’s stock valued at $168,633,000 after purchasing an additional 361,956 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Xerox Corporation by 37.5% in the third quarter. Ameriprise Financial Inc. now owns 4,392,867 shares of the information technology services provider’s stock valued at $146,243,000 after purchasing an additional 1,197,634 shares in the last quarter. Principal Financial Group Inc. raised its stake in Xerox Corporation by 6.8% in the third quarter. Principal Financial Group Inc. now owns 2,331,065 shares of the information technology services provider’s stock valued at $77,600,000 after purchasing an additional 148,093 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Xerox Corporation by 17.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,566,518 shares of the information technology services provider’s stock valued at $52,150,000 after purchasing an additional 229,627 shares in the last quarter. 86.19% of the stock is owned by institutional investors.
Xerox Corporation Company Profile
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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