Xerox Corp (XRX) Receives $38.00 Consensus PT from Analysts
Xerox Corp (NYSE:XRX) has been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $38.00.
A number of analysts have weighed in on the company. ValuEngine cut Xerox from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 26th. Zacks Investment Research cut Xerox from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. Standpoint Research upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. JPMorgan Chase & Co. cut their target price on Xerox from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, July 27th. Finally, Citigroup began coverage on Xerox in a research report on Friday, July 20th. They set a “buy” rating and a $39.00 target price on the stock.
In other news, insider Herve Tessler sold 16,567 shares of Xerox stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $26.03, for a total transaction of $431,239.01. Following the sale, the insider now owns 34,647 shares in the company, valued at $901,861.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Cozza bought 50,000 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were purchased at an average price of $25.42 per share, for a total transaction of $1,271,000.00. Following the transaction, the chairman now directly owns 50,000 shares of the company’s stock, valued at approximately $1,271,000. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.
Xerox stock traded up $0.16 during midday trading on Friday, reaching $26.87. The company’s stock had a trading volume of 3,486,800 shares, compared to its average volume of 2,668,141. Xerox has a fifty-two week low of $23.52 and a fifty-two week high of $37.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.84 and a quick ratio of 1.50. The stock has a market cap of $6.82 billion, a PE ratio of 7.72 and a beta of 1.27.
Xerox (NYSE:XRX) last posted its quarterly earnings results on Thursday, July 26th. The information technology services provider reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.03). Xerox had a net margin of 1.22% and a return on equity of 16.63%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. On average, research analysts expect that Xerox will post 3.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, December 28th. Xerox’s dividend payout ratio (DPR) is currently 28.74%.
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.
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