Xerox Corp (XRX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Xerox Corp (NYSE:XRX) have been assigned an average recommendation of “Buy” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $34.69.

A number of research firms have weighed in on XRX. UBS Group decreased their price target on Xerox from $36.00 to $34.50 and set a “neutral” rating for the company in a report on Friday, October 27th. Zacks Investment Research cut Xerox from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, Barclays restated an “equal weight” rating and issued a $35.00 price target (up previously from $33.00) on shares of Xerox in a report on Tuesday, September 12th.

In related news, EVP Herve Tessler sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $28.59, for a total transaction of $171,540.00. Following the sale, the executive vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $1,025,752.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Several hedge funds have recently bought and sold shares of XRX. Bank of New York Mellon Corp increased its position in Xerox by 22.4% in the third quarter. Bank of New York Mellon Corp now owns 8,622,287 shares of the information technology services provider’s stock worth $287,036,000 after buying an additional 1,578,302 shares during the period. Dimensional Fund Advisors LP increased its position in Xerox by 7.7% in the third quarter. Dimensional Fund Advisors LP now owns 5,065,082 shares of the information technology services provider’s stock worth $168,633,000 after buying an additional 361,956 shares during the period. Ameriprise Financial Inc. increased its position in Xerox by 37.5% in the third quarter. Ameriprise Financial Inc. now owns 4,392,867 shares of the information technology services provider’s stock worth $146,243,000 after buying an additional 1,197,634 shares during the period. Principal Financial Group Inc. increased its position in Xerox by 6.8% in the third quarter. Principal Financial Group Inc. now owns 2,331,065 shares of the information technology services provider’s stock worth $77,600,000 after buying an additional 148,093 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Xerox by 17.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,566,518 shares of the information technology services provider’s stock worth $52,150,000 after buying an additional 229,627 shares during the period. 83.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of Xerox (XRX) opened at $30.19 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97. Xerox has a fifty-two week low of $26.48 and a fifty-two week high of $34.13. The stock has a market capitalization of $7,690.00, a PE ratio of 14.24 and a beta of 1.13.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.06. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Xerox had a return on equity of 17.23% and a net margin of 5.29%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. research analysts expect that Xerox will post 3.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, December 28th. Xerox’s dividend payout ratio is currently 47.17%.

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Xerox Company Profile

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

Analyst Recommendations for Xerox (NYSE:XRX)

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