Xerox (NYSE:XRX) Shares Set to Split on Monday, February 9th

Xerox Holdings Co. (NYSE:XRX) shares are scheduled to split on the morning of Monday, February 9th. The 3-2 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Sunday, February 8th.

Xerox Trading Up 9.4%

Shares of XRX stock traded up $0.20 on Wednesday, reaching $2.33. The company had a trading volume of 8,940,022 shares, compared to its average volume of 3,258,889. The company has a 50-day moving average of $2.56 and a 200-day moving average of $3.42. Xerox has a 12 month low of $2.10 and a 12 month high of $9.12. The stock has a market cap of $298.33 million, a PE ratio of -0.22 and a beta of 1.72. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61.

Xerox (NYSE:XRX) last released its quarterly earnings data on Thursday, October 30th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.38. Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter last year, the business posted $0.25 EPS. The firm’s revenue was up 28.3% compared to the same quarter last year. On average, equities analysts forecast that Xerox will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.025 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 4.3%. Xerox’s dividend payout ratio is currently -1.28%.

Wall Street Analyst Weigh In

XRX has been the subject of a number of research analyst reports. Citigroup decreased their target price on Xerox from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Monday, November 10th. Zacks Research lowered Xerox from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $3.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of XRX. Cidel Asset Management Inc. raised its position in Xerox by 39.2% in the 4th quarter. Cidel Asset Management Inc. now owns 20,186 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 5,681 shares during the last quarter. Brave Asset Management Inc. grew its stake in shares of Xerox by 176.9% during the 4th quarter. Brave Asset Management Inc. now owns 54,000 shares of the information technology services provider’s stock worth $128,000 after acquiring an additional 34,500 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Xerox by 92.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,392,028 shares of the information technology services provider’s stock worth $5,234,000 after acquiring an additional 669,810 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Xerox in the third quarter valued at approximately $121,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Xerox in the third quarter worth $47,000. 85.36% of the stock is owned by institutional investors and hedge funds.

About Xerox

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.