According to Bloomberg Ratings, the six rating companies that cover Xerox Holdings Co. (NYSE: XRX) have given the company an average recommendation of “Reduce,” which indicates that the company’s stock price should be reduced. In addition, the advice of four investment analysts is to sell the stock, while the advice of one analyst is to keep the shares. Analysts have covered the stock within the past year and projected that the price will reach $12.00 within the next year.
Several different research companies have produced recent reports on XRX. Credit Suisse Group lowered their price objective on Xerox stock from $14.00 to $13.00 and issued an “underperform” rating in a report published on Tuesday, October 18. Citigroup lowered their price target on Xerox stock from $15.00 to $10.00 and gave a “sell” rating in a research report published on Wednesday, October 26. Morgan Stanley lowered their target price on Xerox stock from $14.00 to $11.00 and gave the company an “underweight” rating in a research report published on Monday, October 17. Finally, a study published by StockNews.com on October 12 began covering Xerox shares. The article was published on Wednesday. They decided to maintain their “hold” rating for the company.
Several hedge funds and other institutional investors completed recent stock purchases and sales transactions. The first purchase of a fresh position in Xerox shares cost Versor Investments LP $514,00 during the first quarter. During the first three months of the year, Envestnet Asset Management Inc. boosted its holdings in Xerox by 5.7%. After purchasing an additional 2,055 shares over the time frame in question, Envestnet Asset Management Inc. now holds 37,908 of the information technology services provider’s shares, which are $765,000. In addition, during the first three months of the year, Commonwealth Equity Services LLC boosted the percentage of Xerox stock owned by 24.4%. Following the acquisition of 2,967 extra shares during the preceding quarter, Commonwealth Equity Services LLC currently holds a total of 15,107 shares of the company, representing the $304,000 value of the information technology services provider. In addition, the investment firm Victory Capital Management Inc. boosted its holdings in Xerox by 13% over the year’s first three months. Following the acquisition of 7,759 additional shares during the preceding quarter, Victory Capital Management Inc. now holds a total of 67,475 shares of the information technology services provider’s stock, which has a value of $1,174,000. Finally, during the first quarter of this year, Wilbanks Smith & Thomas Asset Management LLC increased the percentage of Xerox stock owned by 41.4%. After making an additional purchase of 20,386 shares during the preceding quarter, Wilbanks Smith & Thomas Asset Management LLC now holds a total of 69,635 shares of the company’s stock, which has a value of $1,233,000. The company’s stock is owned by institutional investors and hedge funds to 94.58% of the total.
The NYSE XRX began trading on Thursday for $15.75. The one-year low for Xerox is $11.80, while the one-year high for the company is $24.14. The simple moving average over the past 50 days for the company is $14.83, and the simple moving average over the past 200 days is $16.09. The debt-to-equity ratio is currently at 0.82, the quick ratio is currently at 0.93, and the current ratio is currently at 1.17. The firm’s market capitalization is currently sitting at $2.45 billion, its PE ratio is -2.29, and its beta is 1.71.
Xerox (NYSE: XRX) disclosed the results of its most recent quarterly financial report on Tuesday, October 25. The provider of information technology services announced earnings per share of $0.19 for the quarter, which was $0.21 less than the consensus forecast of $0.40 from financial analysts. Xerox’s return on equity was positive at 2.66%, but the company’s net margin was negative at 16.10%. In comparison to the generally accepted forecast of $1.76 billion, the actual revenue that the corporation brought in for the quarter was $1.75 billion. During the same period the previous year, the firm earned $0.48 per share. The company’s quarterly sales decline was 4.0% when measured against the prior year’s results for the same period. According to the forecasts of industry experts, Xerox will bring in 0.75 cents per share of profit this year.
In addition, the business has announced a quarterly dividend, which is scheduled to be distributed on Tuesday, January 3. A dividend for $0.25 will be distributed to shareholders of record on December 31. The date that shareholders will not get a dividend is Thursday, December 29thled, to be distributed on Tuesday, January 3. A dividend for $0.25 will be distributed to shareholders of record on December 31. The date shareholders will not get a dividend is Thursday, December 29. This translates to a dividend payment of $1.00 per year and a dividend yield of 6.35 percent. Currently, 14.53% of Xerox’s earnings are distributed to shareholders as dividends.
Xerox Holdings Corporation is based in the United States of America, Europe, Canada, and other foreign locations. Its primary business is designing, developing, and selling document management systems and solutions. It offers monochrome, color, and multifunction printers for desktops, in addition to digital printing presses and light production devices. Additionally, it offers digital services such as workflow automation software, personalization and communication software, content management solutions, and digitization services.