Xerox (XRX) – Research Analysts’ Weekly Ratings Changes

Xerox (NYSE: XRX) has recently received a number of price target changes and ratings updates:

  • 5/16/2018 – Xerox was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $32.00 price target on the stock. According to Zacks, “We appreciate Xerox’s continuous efforts to grow globally through successful acquisitions and disposal of non-core assets. Meanwhile, Xerox reported mixed first-quarter 2018 results, wherein the company’s top line beat the Zacks Consensus Estimate, the bottom line lagged the same. To better adapt to the changing market trends, Xerox continues to expand indirect distribution channels and streamlining its supply chain and product portfolio. It aims to focus on organic improvements and services for the next few quarters. It is reprioritizing investments and accelerating its restructuring actions to improve revenue and margin. However, the company remains exposed to foreign currency exchange rate risks and stiff competition. Xerox termitted its previously announced merger with Fuji Xerox. Shares of Xerox underperformed its industry in the past year.”
  • 5/16/2018 – Xerox had its price target lowered by analysts at Loop Capital to $40.00. They now have a “buy” rating on the stock.
  • 5/15/2018 – Xerox was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 5/14/2018 – Xerox was downgraded by analysts at JPMorgan Chase from an “overweight” rating to a “neutral” rating. They now have a $40.00 price target on the stock.
  • 5/14/2018 – Xerox was downgraded by analysts at Cross Research from a “buy” rating to a “hold” rating.
  • 5/7/2018 – Xerox was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $32.00 price target on the stock. According to Zacks, “We appreciate Xerox’s continuous efforts to grow globally through successful acquisitions and disposal of non-core assets. Meanwhile, Xerox reported mixed first-quarter 2018 results, wherein the company’s top line beat the Zacks Consensus Estimate, the bottom line lagged the same. To better adapt to the changing market trends, Xerox continues to expand indirect distribution channels and streamlining its supply chain and product portfolio. It aims to focus on organic improvements and services for the next few quarters. It is reprioritizing investments and accelerating its restructuring actions to improve revenue and margin. However, the company remains exposed to foreign currency movements due to its international presence. Competitive threat from the availability of a large number of substitutes and technological advancements continue to grow. In fact, in the past six months, shares of Xerox underperformed its industry.”
  • 5/2/2018 – Xerox was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/21/2018 – Xerox was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/7/2018 – Xerox was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Xerox continues to grow globally through successful acquisitions and disposal of non-core assets. To better adapt to the changing market trends, Xerox is continually expanding indirect distribution channels and streamlining its supply chain and product portfolio. It aims to focus on organic improvements and services for the next few quarters. It is reprioritizing investments and accelerating its restructuring actions to improve revenue and margin. However, the company remains exposed to foreign currency movements due to its international presence. Competitive threat from the availability of a large number of substitutes and technological advancements continue to grow. In fact, in the past six months, the stock has declined 15.5% as against  the industry's loss of 10.3%.”
  • 4/2/2018 – Xerox was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

Shares of Xerox traded down $0.02, reaching $28.45, during mid-day trading on Friday, according to MarketBeat Ratings. The company’s stock had a trading volume of 1,070 shares, compared to its average volume of 2,787,715. Xerox has a 12-month low of $28.31 and a 12-month high of $28.60. The company has a market cap of $7.27 billion, a P/E ratio of 8.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.39 and a current ratio of 1.71.

Xerox (NYSE:XRX) last released its quarterly earnings results on Thursday, May 3rd. The information technology services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Xerox had a return on equity of 17.08% and a net margin of 1.74%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. analysts predict that Xerox will post 3.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Friday, March 30th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.51%. Xerox’s dividend payout ratio is presently 28.74%.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Xerox by 0.7% during the 4th quarter. BlackRock Inc. now owns 15,067,064 shares of the information technology services provider’s stock worth $439,206,000 after buying an additional 98,850 shares during the last quarter. LSV Asset Management grew its stake in Xerox by 0.6% during the 1st quarter. LSV Asset Management now owns 6,291,831 shares of the information technology services provider’s stock worth $181,078,000 after buying an additional 34,869 shares during the last quarter. Boston Partners purchased a new position in Xerox during the 1st quarter worth approximately $180,292,000. Dimensional Fund Advisors LP grew its stake in Xerox by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,245,481 shares of the information technology services provider’s stock worth $150,967,000 after buying an additional 69,168 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Xerox by 31.4% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,979,223 shares of the information technology services provider’s stock worth $115,994,000 after buying an additional 951,355 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.

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