Xerox (NYSE:XRX) PT Lowered to $17.00

Xerox (NYSE:XRX) had its price target lowered by JPMorgan Chase & Co. from $18.00 to $17.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an underweight rating on the information technology services provider’s stock.

Separately, StockNews.com lowered shares of Xerox from a buy rating to a hold rating in a research note on Wednesday.

Xerox Stock Performance

Shares of XRX opened at $14.00 on Wednesday. The company’s fifty day moving average is $17.23 and its 200-day moving average is $16.28. Xerox has a 12 month low of $12.06 and a 12 month high of $19.78. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -8.92 and a beta of 1.56. The company has a quick ratio of 0.91, a current ratio of 1.37 and a debt-to-equity ratio of 1.34.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company earned $0.49 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities analysts expect that Xerox will post 2.31 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 7.14%. Xerox’s dividend payout ratio is -63.69%.

Institutional Trading of Xerox

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new stake in Xerox in the 4th quarter worth $25,000. GAMMA Investing LLC acquired a new stake in Xerox in the 4th quarter worth $25,000. Hexagon Capital Partners LLC grew its position in Xerox by 87.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 758 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of Xerox by 30,127.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after acquiring an additional 3,314 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Xerox by 1,733.2% during the 4th quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 4,333 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

About Xerox

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.