StockNews.com upgraded shares of Xerox (NYSE:XRX – Free Report) from a hold rating to a buy rating in a report released on Tuesday.
Separately, JPMorgan Chase & Co. increased their price objective on shares of Xerox from $16.00 to $18.00 and gave the company an underweight rating in a report on Friday, January 26th.
Get Our Latest Research Report on XRX
Xerox Trading Down 0.1 %
Xerox (NYSE:XRX – Get Free Report) last issued its earnings results on Thursday, January 25th. The information technology services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.09). Xerox had a return on equity of 9.41% and a net margin of 0.01%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the company posted $0.89 EPS. The company’s quarterly revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Xerox will post 2.27 earnings per share for the current fiscal year.
Xerox Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s dividend payout ratio (DPR) is presently -500.00%.
Institutional Trading of Xerox
Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of Xerox by 21.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,079 shares of the information technology services provider’s stock valued at $324,000 after buying an additional 3,177 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of Xerox by 30.5% during the 1st quarter. SteelPeak Wealth LLC now owns 34,822 shares of the information technology services provider’s stock valued at $632,000 after buying an additional 8,140 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Xerox by 8.7% during the 1st quarter. Sound Income Strategies LLC now owns 752,435 shares of the information technology services provider’s stock valued at $13,469,000 after buying an additional 60,446 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Xerox during the 1st quarter valued at about $405,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Xerox during the 4th quarter valued at about $386,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.
Xerox Company Profile
Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.
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