Xerox Corp (NYSE:XRX) declared a quarterly dividend on Thursday, February 22nd, RTT News reports. Stockholders of record on Friday, March 30th will be paid a dividend of 0.25 per share by the information technology services provider on Monday, April 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.29%.
Xerox has raised its dividend by an average of 2.7% per year over the last three years and has raised its dividend every year for the last 5 years. Xerox has a dividend payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Xerox to earn $3.50 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 28.6%.
Shares of Xerox (NYSE XRX) traded up $0.06 on Thursday, hitting $30.44. The stock had a trading volume of 822,462 shares, compared to its average volume of 2,999,336. Xerox has a fifty-two week low of $26.64 and a fifty-two week high of $37.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.57 and a current ratio of 1.91. The firm has a market cap of $7,710.00, a PE ratio of 13.70 and a beta of 1.13.
Xerox (NYSE:XRX) last issued its earnings results on Wednesday, January 31st. The information technology services provider reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.08. Xerox had a return on equity of 17.13% and a net margin of 1.67%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the firm posted $1.00 EPS. Xerox’s quarterly revenue was up .5% compared to the same quarter last year. analysts anticipate that Xerox will post 3.43 earnings per share for the current fiscal year.
In other Xerox news, insider Carl C. Icahn sold 140,011 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $32.50, for a total value of $4,550,357.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carl C. Icahn sold 1,161,404 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $34.49, for a total value of $40,056,823.96. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.
A number of equities research analysts recently weighed in on XRX shares. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. UBS Group reaffirmed a “hold” rating and set a $34.50 price target on shares of Xerox in a report on Tuesday, December 5th. Standpoint Research reaffirmed a “hold” rating on shares of Xerox in a report on Wednesday, January 31st. Loop Capital reaffirmed a “buy” rating on shares of Xerox in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. dropped their price target on Xerox from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $35.72.
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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