Xerox (NYSE:XRX) Trading 7.5% Higher – Time to Buy?

Xerox Holdings Co. (NYSE:XRX)’s stock price rose 7.5% during mid-day trading on Tuesday . The company traded as high as $9.10 and last traded at $9.04. Approximately 465,191 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 2,102,476 shares. The stock had previously closed at $8.41.

Analysts Set New Price Targets

Several brokerages have commented on XRX. JPMorgan Chase & Co. lowered their price objective 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. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a report on Thursday, December 26th. Finally, Morgan Stanley decreased their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Xerox Stock Performance

The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -0.81 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a fifty day simple moving average of $8.74 and a two-hundred day simple moving average of $10.00.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Analysts forecast that Xerox Holdings Co. will post 1.12 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.21%. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC grew its holdings in Xerox by 26.1% during the 3rd quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider’s stock valued at $710,000 after buying an additional 14,164 shares in the last quarter. Geode Capital Management LLC increased its holdings in Xerox by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares during the period. Barclays PLC lifted its stake in Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after purchasing an additional 167,500 shares in the last quarter. Stifel Financial Corp boosted its stake in Xerox by 44.2% during the third quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider’s stock valued at $1,582,000 after buying an additional 46,708 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Xerox by 39.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock valued at $398,000 after acquiring an additional 10,794 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.