Xerox (XRX) Hits New 1-Year High at $34.68

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Xerox Corp (NYSE:XRX) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.68 and last traded at $34.48, with a volume of 43182 shares. The stock had previously closed at $34.39.

A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Xerox from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. ValuEngine upgraded shares of Xerox from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. TheStreet upgraded shares of Xerox from a “c+” rating to a “b-” rating in a report on Friday, February 22nd. Standpoint Research cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Finally, Credit Suisse Group assumed coverage on shares of Xerox in a report on Thursday, April 11th. They issued an “outperform” rating and a $42.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $36.60.

The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 10.12 and a beta of 1.70. The company has a current ratio of 1.44, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, January 29th. The information technology services provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). Xerox had a net margin of 3.67% and a return on equity of 16.81%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. Equities analysts forecast that Xerox Corp will post 3.76 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, March 28th. Xerox’s dividend payout ratio (DPR) is presently 28.90%.

A number of institutional investors and hedge funds have recently bought and sold shares of XRX. Legacy Bridge LLC purchased a new position in shares of Xerox during the 4th quarter valued at approximately $30,000. Moody National Bank Trust Division purchased a new position in shares of Xerox during the 1st quarter valued at approximately $35,000. CSat Investment Advisory L.P. increased its holdings in shares of Xerox by 56.9% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,013 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 730 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Xerox by 62.7% during the 4th quarter. First Mercantile Trust Co. now owns 2,570 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 990 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA increased its holdings in shares of Xerox by 132.8% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 2,828 shares of the information technology services provider’s stock valued at $56,000 after purchasing an additional 1,613 shares in the last quarter. 85.15% of the stock is owned by institutional investors.

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Xerox Company Profile (NYSE:XRX)

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

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