JPMorgan Chase cut shares of Xerox (NYSE:XRX) from an overweight rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat reports. The firm currently has $40.00 target price on the information technology services provider’s stock.
Several other equities analysts have also commented on XRX. Zacks Investment Research upgraded shares of Xerox from a hold rating to a buy rating and set a $32.00 price target on the stock in a research note on Monday, May 7th. Cross Research lowered shares of Xerox from a buy rating to a hold rating in a research note on Monday. ValuEngine lowered shares of Xerox from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Standpoint Research reiterated a hold rating on shares of Xerox in a research note on Wednesday, January 31st. Finally, Loop Capital reiterated a buy rating on shares of Xerox in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $35.56.
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XRX stock opened at $28.87 on Monday. The company has a market cap of $7.68 billion, a P/E ratio of 8.30 and a beta of 1.18. Xerox has a fifty-two week low of $27.13 and a fifty-two week high of $29.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.39 and a current ratio of 1.71.
Xerox (NYSE:XRX) last announced its quarterly earnings results on Thursday, May 3rd. The information technology services provider reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.05). The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Xerox had a net margin of 1.74% and a return on equity of 17.08%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. analysts anticipate that Xerox will post 3.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Friday, March 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.46%. Xerox’s dividend payout ratio (DPR) is presently 28.74%.
Several institutional investors and hedge funds have recently made changes to their positions in XRX. Rampart Investment Management Company LLC grew its position in shares of Xerox by 105.3% during the first quarter. Rampart Investment Management Company LLC now owns 6,095 shares of the information technology services provider’s stock worth $175,000 after acquiring an additional 3,126 shares during the last quarter. First Allied Advisory Services Inc. acquired a new stake in shares of Xerox during the first quarter worth $200,000. D.A. Davidson & CO. acquired a new stake in shares of Xerox during the fourth quarter worth $202,000. Advisor Partners LLC acquired a new stake in shares of Xerox during the fourth quarter worth $204,000. Finally, Conning Inc. acquired a new stake in shares of Xerox during the fourth quarter worth $215,000. Institutional investors and hedge funds own 88.41% of the company’s stock.
Xerox Company Profile
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.
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