Xerox Holdings Co. (NYSE:XRX – Get Free Report)’s stock price was up 3.4% on Monday . The company traded as high as $11.44 and last traded at $11.40. Approximately 1,304,297 shares changed hands during trading, a decline of 41% from the average daily volume of 2,204,108 shares. The stock had previously closed at $11.03.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on XRX shares. JPMorgan Chase & Co. lowered their price objective on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, April 24th. Citigroup started coverage on shares of Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 target price for the company. Finally, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Friday.
Xerox Trading Up 2.5 %
The business’s 50 day moving average price is $12.73 and its two-hundred day moving average price is $15.34. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -7.07 and a beta of 1.58. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.13 and a current ratio of 1.49.
Xerox (NYSE:XRX – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Xerox had a positive return on equity of 7.49% and a negative net margin of 1.60%. The company’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. Equities analysts forecast that Xerox Holdings Co. will post 1.99 earnings per share for the current fiscal year.
Xerox Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.84%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s dividend payout ratio is presently -63.69%.
Institutional Trading of Xerox
Several institutional investors and hedge funds have recently added to or reduced their stakes in XRX. Bridgeway Capital Management LLC purchased a new stake in shares of Xerox in the 4th quarter valued at approximately $17,470,000. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Xerox in the 4th quarter valued at approximately $14,832,000. Norges Bank purchased a new stake in shares of Xerox in the 4th quarter valued at approximately $9,435,000. SG Capital Management LLC purchased a new stake in shares of Xerox in the 1st quarter valued at approximately $8,466,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Xerox in the 1st quarter valued at approximately $4,509,000. 85.36% of the stock is owned by institutional investors and hedge funds.
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.