Xerox Given “Outperform” Rating at BMO Capital Markets (XRX)
Xerox traded up 0.70% on Friday, hitting $8.6299. Xerox has a 52-week low of $6.10 and a 52-week high of $8.58. The stock’s 50-day moving average is currently $8.00. The company has a market cap of $10.562 billion and a price-to-earnings ratio of 9.72.
Xerox last posted its quarterly earnings results on Thursday, January 24th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.29 by $0.01. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Xerox has set its Q1 guidance at $0.23-0.25 EPS and its FY13 guidance at $1.09-1.15 EPS. On average, analysts predict that Xerox will post $1.12 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on XRX. Analysts at Argus reiterated a “buy” rating on shares of Xerox in a research note to investors on Friday, February 22nd. They now have a $13.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, February 13th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Xerox in a research note to investors on Tuesday, January 29th. They now have a $8.75 price target on the stock.
Four analysts have rated the stock with a buy rating, five have assigned a hold rating, one has assigned an underweight rating, and one has issued a sell rating to the company’s stock. The company presently has an average rating of “hold” and a consensus target price of $8.14.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.06 per share. This represents a $0.23 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Tuesday, March 26th. This is an increase from Xerox’s previous quarterly dividend of $0.04.
Xerox Corporation provides a portfolio of document technology, services and software, and the diverse array of business process and information technology outsourcing support.
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