Xerox Corp Given Average Recommendation of “Hold” by Analysts (NYSE:XRX)

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Xerox Corp (NYSE:XRX) has received an average rating of “Hold” from the ten brokerages that are presently covering the company, Analyst Ratings Network reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $12.33.

A number of research firms have recently commented on XRX. Analysts at Susquehanna initiated coverage on shares of Xerox Corp in a research note on Thursday, April 24th. They set a “positive” rating and a $14.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Xerox Corp in a research note on Wednesday, April 23rd. They now have a $12.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Xerox Corp from $9.00 to $11.00 in a research note on Wednesday, April 23rd. They now have an “underweight” rating on the stock.

In other Xerox Corp news, EVP Lima Armando Zagalo De sold 24,900 shares of the stock on the open market in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.15, for a total transaction of $302,535.00. Following the sale, the executive vice president now directly owns 255,435 shares of the company’s stock, valued at approximately $3,103,535. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Xerox Corp (NYSE:XRX) opened at 11.83 on Wednesday. Xerox Corp has a one year low of $8.63 and a one year high of $12.65. The stock’s 50-day moving average is $11.49 and its 200-day moving average is $11.18. The company has a market cap of $13.809 billion and a P/E ratio of 12.89. Xerox Corp also was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 15,882,515 shares, an increase of 22.9% from the March 31st total of 12,918,395 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 10,134,748 shares, the days-to-cover ratio is presently 1.6 days.

Xerox Corp (NYSE:XRX) last released its earnings data on Tuesday, April 22nd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts expect that Xerox Corp will post $1.10 EPS for the current fiscal year.

Xerox Corporation provides services and technology to enable its customers from small businesses to large global enterprises to focus on their core business.

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