Xerox Corporation (XRX) Downgraded by Vetr Inc. to “Buy”
Vetr lowered shares of Xerox Corporation (NYSE:XRX) from a strong-buy rating to a buy rating in a report released on Thursday morning. The firm currently has $7.76 target price on the stock.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Xerox Corporation from a sell rating to a hold rating in a research note on Tuesday, November 15th. Morgan Stanley started coverage on Xerox Corporation in a research note on Thursday. They issued an overweight rating and a $9.00 price target for the company. Goldman Sachs Group, Inc. (The) upgraded Xerox Corporation from a neutral rating to a buy rating and reduced their price target for the company from $10.50 to $8.50 in a research note on Tuesday. Brean Capital restated a hold rating on shares of Xerox Corporation in a research note on Monday, October 31st. Finally, J P Morgan Chase & Co upgraded Xerox Corporation from a neutral rating to an overweight rating and boosted their price target for the company from $8.73 to $10.50 in a research note on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Xerox Corporation currently has an average rating of Hold and an average price target of $10.43.
Xerox Corporation (NYSE:XRX) traded up 1.59% on Thursday, reaching $7.05. The company’s stock had a trading volume of 10,081,307 shares. The company has a 50-day moving average price of $8.67 and a 200 day moving average price of $9.46. The company has a market cap of $7.15 billion, a P/E ratio of 11.83 and a beta of 1.17. Xerox Corporation has a 12 month low of $6.46 and a 12 month high of $11.39.
Xerox Corporation (NYSE:XRX) last issued its earnings results on Friday, October 28th. The company reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Xerox Corporation had a return on equity of 12.62% and a net margin of 3.74%. The company earned $4.20 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company posted $0.24 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Xerox Corporation will post $0.90 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Daily Political and is the propert of of Daily Political. If you are accessing this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The correct version of this news story can be read at http://www.dailypolitical.com/2017/01/13/xerox-corporation-xrx-downgraded-by-vetr-inc-to-buy.html.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.0775 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 4.40%. Xerox Corporation’s dividend payout ratio (DPR) is currently 50.00%.
In other news, CFO Leslie F. Varon sold 3,510 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $9.45, for a total transaction of $33,169.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Herve Tessler sold 14,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $9.49, for a total value of $132,860.00. Following the transaction, the insider now directly owns 96,319 shares of the company’s stock, valued at approximately $914,067.31. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. CIBC World Markets Inc. acquired a new position in Xerox Corporation during the second quarter worth approximately $101,000. New York Life Trust Co. boosted its position in shares of Xerox Corporation by 49.7% in the third quarter. New York Life Trust Co. now owns 10,203 shares of the company’s stock worth $103,000 after buying an additional 3,387 shares during the last quarter. Concert Wealth Management Inc. boosted its position in shares of Xerox Corporation by 0.6% in the third quarter. Concert Wealth Management Inc. now owns 10,375 shares of the company’s stock worth $104,000 after buying an additional 59 shares during the last quarter. Lakeview Capital Partners LLC purchased a new position in shares of Xerox Corporation during the third quarter worth about $107,000. Finally, Acrospire Investment Management LLC boosted its position in shares of Xerox Corporation by 738.5% in the third quarter. Acrospire Investment Management LLC now owns 10,900 shares of the company’s stock worth $110,000 after buying an additional 9,600 shares during the last quarter. 82.30% of the stock is owned by institutional investors.
Xerox Corporation 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 Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox Corporation and related companies with MarketBeat.com's FREE daily email newsletter.