Shares of Xerox Corp (NYSE:XRX) have received a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $34.69.
A number of equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Xerox from $36.00 to $34.50 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Zacks Investment Research lowered shares of Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, Barclays reiterated an “equal weight” rating and issued a $35.00 price objective (up from $33.00) on shares of Xerox in a research report on Tuesday, September 12th.
In other Xerox news, EVP Herve Tessler sold 6,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $28.59, for a total transaction of $171,540.00. Following the sale, the executive vice president now directly owns 35,878 shares in the company, valued at approximately $1,025,752.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. AXA raised its stake in shares of Xerox by 0.8% during the 3rd quarter. AXA now owns 1,450,006 shares of the information technology services provider’s stock worth $48,270,000 after buying an additional 11,385 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Xerox by 10.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 58,328 shares of the information technology services provider’s stock worth $1,942,000 after buying an additional 5,316 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Xerox by 1.8% during the 3rd quarter. California Public Employees Retirement System now owns 714,372 shares of the information technology services provider’s stock worth $23,781,000 after buying an additional 12,484 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Xerox in the 3rd quarter valued at about $438,000. Finally, Cubist Systematic Strategies LLC raised its stake in Xerox by 521.4% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 65,972 shares of the information technology services provider’s stock valued at $2,196,000 after purchasing an additional 55,355 shares during the last quarter. 83.54% of the stock is owned by institutional investors and hedge funds.
Xerox (NYSE:XRX) opened at $30.19 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97. The stock has a market cap of $7,690.00, a P/E ratio of 14.24 and a beta of 1.13. Xerox has a 1 year low of $26.48 and a 1 year high of $34.13.
Xerox (NYSE:XRX) last announced its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Xerox had a net margin of 5.29% and a return on equity of 17.23%. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. research analysts predict that Xerox will post 3.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.31%. Xerox’s payout ratio is currently 47.17%.
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Xerox 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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