Xerox Corp (XRX) Receives Consensus Rating of “Buy” from Analysts

Shares of Xerox Corp (NYSE:XRX) have been given an average recommendation of “Buy” by the nine research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $35.25.

A number of equities analysts have recently issued reports on XRX shares. Zacks Investment Research upgraded Xerox from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. ValuEngine upgraded Xerox from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, Citigroup lowered their price objective on Xerox from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th.

In other news, insider Michael David Feldman sold 3,729 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $29.00, for a total transaction of $108,141.00. Following the completion of the transaction, the insider now directly owns 2,869 shares in the company, valued at $83,201. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XRX. Municipal Employees Retirement System of Michigan grew its stake in Xerox by 62.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 24,497 shares of the information technology services provider’s stock worth $588,000 after purchasing an additional 9,400 shares during the period. Janney Montgomery Scott LLC grew its stake in Xerox by 20.4% during the second quarter. Janney Montgomery Scott LLC now owns 12,850 shares of the information technology services provider’s stock worth $308,000 after purchasing an additional 2,174 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Xerox by 83.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,477 shares of the information technology services provider’s stock worth $539,000 after purchasing an additional 10,231 shares during the period. TD Asset Management Inc. grew its stake in Xerox by 8.5% during the second quarter. TD Asset Management Inc. now owns 231,026 shares of the information technology services provider’s stock worth $5,545,000 after purchasing an additional 18,080 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in Xerox by 130.4% during the second quarter. Commonwealth Equity Services LLC now owns 47,863 shares of the information technology services provider’s stock worth $1,149,000 after purchasing an additional 27,091 shares during the period. 87.68% of the stock is owned by institutional investors and hedge funds.

Shares of XRX traded down $0.06 during mid-day trading on Friday, reaching $26.64. 3,902,500 shares of the company were exchanged, compared to its average volume of 2,816,991. Xerox has a 52 week low of $23.52 and a 52 week high of $37.42. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.82 and a quick ratio of 1.47. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 7.66 and a beta of 1.06.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, October 23rd. The information technology services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.07. Xerox had a return on equity of 16.50% and a net margin of 0.34%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the company earned $0.89 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Xerox will post 3.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.75%. Xerox’s dividend payout ratio (DPR) is 28.74%.

About Xerox

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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Analyst Recommendations for Xerox (NYSE:XRX)

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