Xerox Holdings Co. (NYSE:XRX) Plans $0.13 Quarterly Dividend

Xerox Holdings Co. (NYSE:XRX) declared a quarterly dividend on Thursday, February 20th,RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.125 per share by the information technology services provider on Wednesday, April 30th. This represents a $0.50 annualized dividend and a yield of 6.31%.

Xerox has a dividend payout ratio of 61.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Xerox to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 71.9%.

Xerox Stock Down 1.3 %

XRX stock traded down $0.11 during trading on Thursday, hitting $7.93. 509,765 shares of the company’s stock traded hands, compared to its average volume of 2,448,271. The business has a fifty day simple moving average of $8.71 and a two-hundred day simple moving average of $9.42. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox has a 1 year low of $7.77 and a 1 year high of $19.48. The firm has a market capitalization of $985.63 million, a P/E ratio of -0.74 and a beta of 1.59.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on XRX shares. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Finally, Morgan Stanley decreased their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, Xerox presently has a consensus rating of “Reduce” and a consensus price target of $9.50.

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.