Xerox (NYSE:XRX) Price Target Cut to $11.00

Xerox (NYSE:XRX) had its price objective decreased by JPMorgan Chase & Co. from $13.00 to $11.00 in a research note issued to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the information technology services provider’s stock.

A number of other analysts have also commented on the company. Loop Capital decreased their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Citigroup began coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 target price on the stock. Finally, StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.25.

Xerox Price Performance

Xerox stock opened at $10.05 on Monday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.57 and a beta of 1.57. Xerox has a 52-week low of $9.51 and a 52-week high of $19.78. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. The stock’s 50 day moving average price is $10.46 and its two-hundred day moving average price is $12.13.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. On average, equities analysts predict that Xerox will post 1.72 earnings per share for the current year.

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.95%. Xerox’s dividend payout ratio is presently -95.24%.

Institutional Investors Weigh In On Xerox

Several institutional investors have recently bought and sold shares of XRX. Vanguard Group Inc. grew its stake in shares of Xerox by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after acquiring an additional 190,034 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Xerox in the 1st quarter worth about $1,206,000. SG Capital Management LLC purchased a new stake in Xerox in the 1st quarter valued at about $8,466,000. Mizuho Markets Americas LLC purchased a new position in shares of Xerox in the 1st quarter worth approximately $1,656,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Xerox by 8.7% in the first quarter. Sound Income Strategies LLC now owns 752,435 shares of the information technology services provider’s stock valued at $13,469,000 after acquiring an additional 60,446 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Company Profile

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.