Several other brokerages have also recently commented on XRX. SunTrust Banks Inc. started coverage on shares of Xerox Corp. in a research report on Tuesday, September 13th. They issued a buy rating and a $13.00 target price for the company. Brean Capital restated a hold rating on shares of Xerox Corp. in a research report on Monday, August 1st. Zacks Investment Research cut shares of Xerox Corp. from a hold rating to a sell rating in a research report on Monday, June 27th. Piper Jaffray Cos. restated an overweight rating on shares of Xerox Corp. in a research report on Saturday, July 2nd. Finally, BMO Capital Markets boosted their target price on shares of Xerox Corp. from $10.00 to $10.50 and gave the company a market perform rating in a research report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $11.10.
Xerox Corp. (NYSE:XRX) opened at 9.90 on Tuesday. Xerox Corp. has a 52 week low of $8.48 and a 52 week high of $11.39. The company has a market capitalization of $10.03 billion, a PE ratio of 25.85 and a beta of 1.29. The firm has a 50-day moving average of $9.87 and a 200-day moving average of $9.94.
Xerox Corp. (NYSE:XRX) last issued its earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. The company earned $4.40 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Xerox Corp. had a net margin of 2.49% and a return on equity of 12.36%. The business’s revenue for the quarter was down 69.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. Equities analysts expect that Xerox Corp. will post $1.13 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.0775 per share. This represents a $0.31 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, September 28th. Xerox Corp.’s payout ratio is 75.61%.
In other news, insider Herve Tessler sold 13,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $9.89, for a total value of $128,570.00. Following the sale, the insider now directly owns 110,319 shares of the company’s stock, valued at approximately $1,091,054.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Ursula M. Burns sold 3,317 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $9.85, for a total transaction of $32,672.45. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.
Several large investors have recently bought and sold shares of XRX. Advisory Services Network LLC raised its stake in Xerox Corp. by 37.4% in the third quarter. Advisory Services Network LLC now owns 14,720 shares of the company’s stock worth $149,000 after buying an additional 4,010 shares in the last quarter. Eqis Capital Management Inc. raised its stake in Xerox Corp. by 16.8% in the third quarter. Eqis Capital Management Inc. now owns 30,278 shares of the company’s stock worth $307,000 after buying an additional 4,344 shares in the last quarter. Macquarie Group Ltd. raised its stake in Xerox Corp. by 7.4% in the second quarter. Macquarie Group Ltd. now owns 67,253,384 shares of the company’s stock worth $638,235,000 after buying an additional 4,645,879 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Xerox Corp. during the second quarter worth approximately $365,000. Finally, Kentucky Retirement Systems purchased a new stake in Xerox Corp. during the second quarter worth approximately $768,000. 83.90% of the stock is currently owned by institutional investors.
Xerox Corp. Company Profile
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
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