Xerox (XRX) Sets New 1-Year High at $34.68

Shares of Xerox Corp (NYSE:XRX) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.68 and last traded at $34.48, with a volume of 43182 shares changing hands. The stock had previously closed at $34.39.

XRX has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Xerox from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. ValuEngine upgraded shares of Xerox from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Standpoint Research lowered shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. TheStreet upgraded shares of Xerox from a “c+” rating to a “b-” rating in a report on Friday, February 22nd. Finally, Credit Suisse Group started coverage on shares of Xerox in a report on Thursday, April 11th. They issued an “outperform” rating and a $42.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.60.

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.19 and a current ratio of 1.44. The company has a market capitalization of $7.98 billion, a PE ratio of 10.12 and a beta of 1.70.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, January 29th. The information technology services provider reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.60 billion. Xerox had a net margin of 3.67% and a return on equity of 16.81%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. On average, analysts expect that Xerox Corp will post 3.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, March 28th. Xerox’s dividend payout ratio (DPR) is 28.90%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Water Island Capital LLC boosted its holdings in Xerox by 27.8% in the fourth quarter. Water Island Capital LLC now owns 347,913 shares of the information technology services provider’s stock valued at $6,875,000 after purchasing an additional 75,751 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of Xerox by 534.9% in the first quarter. First Hawaiian Bank now owns 3,822 shares of the information technology services provider’s stock valued at $122,000 after acquiring an additional 3,220 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Xerox by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 230,077 shares of the information technology services provider’s stock valued at $6,207,000 after acquiring an additional 7,379 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Xerox in the fourth quarter valued at approximately $763,000. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Xerox by 449.7% in the third quarter. Neuberger Berman Group LLC now owns 582,803 shares of the information technology services provider’s stock valued at $15,724,000 after acquiring an additional 476,785 shares during the period. 85.15% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Xerox (XRX) Sets New 1-Year High at $34.68” was originally posted by Markets Daily and is owned by of Markets Daily. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.themarketsdaily.com/2019/04/17/xerox-xrx-sets-new-1-year-high-at-34-68.html.

Xerox Company Profile (NYSE:XRX)

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

Featured Story: FAANG Stocks

Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter.