Xerox (NYSE:XRX) Upgraded at StockNews.com

StockNews.com upgraded shares of Xerox (NYSE:XRXFree Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Separately, JPMorgan Chase & Co. cut their price objective on shares of Xerox from $18.00 to $17.00 and set an underweight rating for the company in a research report on Wednesday, April 24th.

Check Out Our Latest Stock Report on XRX

Xerox Stock Performance

Shares of XRX opened at $13.32 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.07 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.65 billion, a P/E ratio of -8.48 and a beta of 1.63. The company has a 50-day moving average of $14.12 and a two-hundred day moving average of $16.32. Xerox has a 12-month low of $12.06 and a 12-month high of $19.78.

Xerox (NYSE:XRXGet Free Report) last announced its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, research analysts predict that Xerox will post 2.05 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.51%. The ex-dividend date is Friday, June 28th. Xerox’s dividend payout ratio is presently -63.69%.

Hedge Funds Weigh In On Xerox

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new position in Xerox during the fourth quarter worth approximately $25,000. GAMMA Investing LLC acquired a new position in Xerox during the fourth quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its stake in Xerox by 38.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after buying an additional 630 shares during the period. EntryPoint Capital LLC purchased a new stake in Xerox during the first quarter worth approximately $45,000. Finally, TFO Wealth Partners LLC grew its stake in Xerox by 30,127.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after buying an additional 3,314 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Company Profile

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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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