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

Xerox Corp (NYSE:XRX) has received an average rating of “Buy” from the fifteen research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $35.50.

A number of equities analysts have recently weighed in on XRX shares. BidaskClub raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. ValuEngine raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Barclays reaffirmed an “equal weight” rating and set a $35.00 price target (up from $33.00) on shares of Xerox in a research note on Tuesday, September 12th. Finally, UBS started coverage on shares of Xerox in a research note on Tuesday, October 3rd. They set a “neutral” rating and a $36.00 price target on the stock.

Xerox (NYSE XRX) opened at $29.65 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.63 and a quick ratio of 1.33. The stock has a market cap of $7,550.00, a price-to-earnings ratio of 8.76 and a beta of 1.13. Xerox has a 12 month low of $24.86 and a 12 month high of $34.13.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Xerox had a net margin of 5.29% and a return on equity of 17.23%. Xerox’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. equities research analysts anticipate that Xerox will post 3.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.37%. Xerox’s dividend payout ratio is presently 47.17%.

In related news, EVP Herve Tessler sold 6,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $28.59, for a total value of $171,540.00. Following the sale, the executive vice president now directly owns 35,878 shares in the company, valued at approximately $1,025,752.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. purchased a new stake in shares of Xerox in the 2nd quarter worth about $470,000. Denali Advisors LLC boosted its position in shares of Xerox by 28.1% in the 3rd quarter. Denali Advisors LLC now owns 54,000 shares of the information technology services provider’s stock worth $1,798,000 after buying an additional 11,850 shares in the last quarter. Aperio Group LLC boosted its position in shares of Xerox by 7.1% in the 3rd quarter. Aperio Group LLC now owns 266,423 shares of the information technology services provider’s stock worth $8,869,000 after buying an additional 17,565 shares in the last quarter. United Asset Strategies Inc. boosted its position in shares of Xerox by 56.4% in the 3rd quarter. United Asset Strategies Inc. now owns 25,978 shares of the information technology services provider’s stock worth $865,000 after buying an additional 9,367 shares in the last quarter. Finally, AXA boosted its position in shares of Xerox by 10.9% in the 2nd quarter. AXA now owns 1,438,621 shares of the information technology services provider’s stock worth $41,331,000 after buying an additional 141,790 shares in the last quarter. Institutional investors and hedge funds own 84.03% of the company’s stock.

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Xerox Company Profile

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

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