Xerox Corp (XRX) To Go Ex-Dividend on December 28th
Xerox Corp (NYSE:XRX) declared a quarterly dividend on Tuesday, October 17th, RTT News reports. Investors of record on Friday, December 29th will be given a dividend of 0.25 per share by the information technology services provider on Wednesday, January 31st. This represents a $1.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, December 28th.
Xerox has increased its dividend payment by an average of 12.1% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Xerox has a payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Xerox to earn $3.31 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 30.2%.
Xerox (XRX) opened at $29.41 on Wednesday. The firm has a market cap of $7,490.00, a price-to-earnings ratio of 13.87 and a beta of 1.13. Xerox has a 12-month low of $25.84 and a 12-month high of $36.08. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.63 and a quick ratio of 1.33.
Xerox (NYSE:XRX) last released its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Xerox had a net margin of 5.29% and a return on equity of 17.23%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. equities analysts forecast that Xerox will post 3.38 EPS for the current year.
A number of research firms recently weighed in on XRX. UBS Group began coverage on shares of Xerox in a research report on Tuesday, October 3rd. They issued a “neutral” rating and a $36.00 target price for the company. Barclays reaffirmed an “equal weight” rating and issued a $35.00 target price (up previously from $33.00) on shares of Xerox in a research report on Tuesday, September 12th. ValuEngine raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Xerox from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Xerox currently has an average rating of “Buy” and an average price target of $35.50.
In other news, EVP Herve Tessler sold 6,000 shares of Xerox 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 completion of the transaction, the executive vice president now owns 35,878 shares of the company’s stock, valued at approximately $1,025,752.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.
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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