Other equities research analysts have also recently issued reports about the stock. SunTrust Banks Inc. initiated coverage on shares of Xerox Corp. in a research report on Tuesday, September 13th. They set a buy rating and a $13.00 price target on the stock. Brean Capital restated a hold rating on shares of Xerox Corp. in a research note on Monday, August 1st. BMO Capital Markets boosted their price objective on shares of Xerox Corp. from $10.00 to $10.50 and gave the stock a market perform rating in a research note on Monday, August 1st. Piper Jaffray Cos. restated an overweight rating on shares of Xerox Corp. in a research note on Saturday, July 2nd. Finally, Zacks Investment Research lowered shares of Xerox Corp. from a hold rating to a sell rating in a research note on Monday, June 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $11.10.
Xerox Corp. (NYSE:XRX) opened at 10.01 on Tuesday. Xerox Corp. has a 52 week low of $8.48 and a 52 week high of $11.39. The firm’s 50-day moving average is $9.86 and its 200-day moving average is $9.94. The company has a market cap of $10.14 billion, a PE ratio of 26.14 and a beta of 1.29.
Xerox Corp. (NYSE:XRX) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. Xerox Corp. had a net margin of 2.49% and a return on equity of 12.36%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the firm posted $0.22 EPS. The company’s revenue for the quarter was down 69.8% on a year-over-year basis. On average, analysts expect that Xerox Corp. will post $1.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.0775 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.31 dividend on an annualized basis and a yield of 3.10%. Xerox Corp.’s dividend payout ratio (DPR) is currently 75.61%.
In other Xerox Corp. news, Chairman Ursula M. Burns sold 3,317 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $9.85, for a total transaction of $32,672.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Herve Tessler sold 13,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $9.89, for a total transaction of $128,570.00. Following the transaction, the insider now owns 110,319 shares in the company, valued at approximately $1,091,054.91. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eqis Capital Management Inc. raised its position in shares of Xerox Corp. by 16.8% in the third quarter. Eqis Capital Management Inc. now owns 30,278 shares of the company’s stock worth $307,000 after buying an additional 4,344 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Xerox Corp. by 7.4% in the second quarter. Macquarie Group Ltd. now owns 67,253,384 shares of the company’s stock worth $638,235,000 after buying an additional 4,645,879 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Xerox Corp. during the second quarter worth about $365,000. Kentucky Retirement Systems acquired a new position in shares of Xerox Corp. during the second quarter worth about $768,000. Finally, Mason Street Advisors LLC acquired a new position in shares of Xerox Corp. during the second quarter worth about $1,217,000. Hedge funds and other institutional investors own 83.90% of the company’s stock.
Xerox Corp. Company Profile
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Xerox Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox Corp. and related companies with MarketBeat.com's FREE daily email newsletter.