Xerox (NASDAQ:XRX) Research Coverage Started at Noble Financial

Noble Financial initiated coverage on shares of Xerox (NASDAQ:XRX) in a report issued on Tuesday, Marketbeat.com reports. The firm issued an outperform rating and a $5.00 price objective on the information technology services provider’s stock.

XRX has been the topic of several other research reports. Citigroup reaffirmed a “neutral” rating and set a $3.45 price objective (up from $2.50) on shares of Xerox in a research report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Xerox in a research report on Friday, July 24th. Finally, Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.48.

Xerox Stock Down 0.4%

XRX stock opened at $2.84 on Tuesday. The company has a 50 day moving average of $2.98 and a two-hundred day moving average of $2.38. The company has a market cap of $372.95 million, a price-to-earnings ratio of -0.38 and a beta of 2.40. Xerox has a 12-month low of $1.19 and a 12-month high of $4.27. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 12.58.

Xerox (NASDAQ:XRX) last issued its earnings results on Thursday, July 30th. The information technology services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.32. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. Xerox had a positive return on equity of 17.61% and a negative net margin of 11.93%.The business’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.64) EPS. On average, equities analysts anticipate that Xerox will post 0.19 earnings per share for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.5%. Xerox’s dividend payout ratio is currently -1.36%.

Institutional Investors Weigh In On Xerox

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. S Harris Financial Group LLC acquired a new position in Xerox during the fourth quarter valued at approximately $25,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Xerox in the first quarter worth $25,000. Captrust Financial Advisors bought a new stake in shares of Xerox during the 4th quarter worth $26,000. Williams & Novak LLC bought a new stake in shares of Xerox during the 4th quarter worth $27,000. Finally, Arkadios Wealth Advisors acquired a new position in Xerox in the 4th quarter valued at $35,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Company Profile

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.