Xerox (NYSE:XRX) Stock Price Down 5.7% – Should You Sell?

Shares of Xerox Holdings Co. (NYSE:XRX) traded down 5.7% on Tuesday . The company traded as low as $8.80 and last traded at $8.80. 436,406 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,174,710 shares. The stock had previously closed at $9.33.

Analyst Upgrades and Downgrades

Several research analysts have commented on XRX shares. Morgan Stanley decreased their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Finally, Loop Capital cut their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.50.

Xerox Trading Down 5.1 %

The stock has a market capitalization of $1.10 billion, a P/E ratio of -0.79 and a beta of 1.59. The business has a 50 day simple moving average of $9.50 and a 200-day simple moving average of $10.94. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $0.46 earnings per share. Xerox’s revenue was down 7.5% compared to the same quarter last year. On average, analysts predict that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.30%. Xerox’s dividend payout ratio is currently -9.06%.

Hedge Funds Weigh In On Xerox

Institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in shares of Xerox by 33.2% during the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after buying an additional 4,228,806 shares during the period. Mizuho Markets Americas LLC grew its stake in Xerox by 282.4% in the second quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after purchasing an additional 261,180 shares in the last quarter. Sound Income Strategies LLC increased its position in Xerox by 27.9% in the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the last quarter. Barclays PLC lifted its holdings in shares of Xerox by 55.5% during the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after buying an additional 167,500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Xerox in the 3rd quarter valued at approximately $1,626,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.