Xerox Corp. (XRX) Rating Lowered to Buy at Vetr Inc.
Xerox Corp. (NYSE:XRX) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday. They presently have a $10.47 target price on the stock. Vetr‘s target price points to a potential upside of 5.02% from the stock’s previous close.
XRX has been the topic of several other research reports. SunTrust Banks Inc. started coverage on shares of Xerox Corp. in a research note on Tuesday, September 13th. They set a “buy” rating and a $13.00 target price on the stock. Piper Jaffray Cos. reissued an “overweight” rating on shares of Xerox Corp. in a research report on Saturday, July 2nd. Brean Capital reissued a “hold” rating on shares of Xerox Corp. in a research report on Monday, August 1st. Zacks Investment Research cut shares of Xerox Corp. from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Finally, Barclays PLC reissued an “underweight” rating and set a $11.00 price target (up previously from $10.00) on shares of Xerox Corp. in a research report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Xerox Corp. has a consensus rating of “Hold” and a consensus price target of $11.10.
Shares of Xerox Corp. (NYSE:XRX) opened at 9.97 on Tuesday. The stock has a 50 day moving average of $9.85 and a 200 day moving average of $9.94. Xerox Corp. has a 52 week low of $8.48 and a 52 week high of $11.39. The stock has a market cap of $10.10 billion, a P/E ratio of 26.03 and a beta of 1.29.
Xerox Corp. (NYSE:XRX) last announced its earnings results on Friday, July 29th. The company reported $0.30 earnings per share (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 company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the company posted $0.22 EPS. The firm’s quarterly revenue was down 69.8% on a year-over-year basis. On average, analysts expect that Xerox Corp. will post $1.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given 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 3.11%. Xerox Corp.’s payout ratio is currently 75.61%.
In other Xerox Corp. news, insider Herve Tessler sold 13,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $9.89, for a total value of $128,570.00. Following the transaction, the insider now owns 110,319 shares of the company’s stock, valued at $1,091,054.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ursula M. Burns sold 3,317 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $9.85, for a total transaction of $32,672.45. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC World Markets Inc. bought a new position in Xerox Corp. during the second quarter worth approximately $101,000. Raymond James Trust N.A. boosted its position in Xerox Corp. by 10.2% in the second quarter. Raymond James Trust N.A. now owns 11,703 shares of the company’s stock worth $111,000 after buying an additional 1,088 shares during the last quarter. Eaton Vance Management boosted its position in Xerox Corp. by 0.7% in the second quarter. Eaton Vance Management now owns 11,873 shares of the company’s stock worth $113,000 after buying an additional 88 shares during the last quarter. Ifrah Financial Services Inc. bought a new position in Xerox Corp. during the second quarter worth approximately $116,000. Finally, Shelton Capital Management boosted its position in Xerox Corp. by 19.4% in the second quarter. Shelton Capital Management now owns 12,310 shares of the company’s stock worth $117,000 after buying an additional 2,000 shares during the last quarter. 83.90% of the stock is currently owned by institutional investors.
About Xerox Corp.
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.