Xerox Corp (NYSE:XRX) declared a quarterly dividend on Thursday, July 19th, RTT News reports. Stockholders of record on Friday, September 28th will be given a dividend of 0.25 per share by the information technology services provider on Wednesday, October 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, September 27th.

Xerox has increased its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend every year for the last 5 years. Xerox has a payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Xerox to earn $3.37 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 29.7%.

XRX stock opened at $27.14 on Wednesday. Xerox has a twelve month low of $23.52 and a twelve month high of $37.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.84. The stock has a market cap of $6.96 billion, a PE ratio of 8.00 and a beta of 1.27.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Thursday, July 26th. The information technology services provider reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.03). Xerox had a net margin of 1.22% and a return on equity of 16.63%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. equities analysts forecast that Xerox will post 3.3 earnings per share for the current fiscal year.

In other Xerox news, insider Herve Tessler sold 16,567 shares of Xerox stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $26.03, for a total value of $431,239.01. Following the sale, the insider now owns 34,647 shares of the company’s stock, valued at approximately $901,861.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Cozza acquired 50,000 shares of Xerox stock in a transaction on Friday, July 27th. The stock was purchased at an average cost of $25.42 per share, for a total transaction of $1,271,000.00. Following the purchase, the chairman now owns 50,000 shares in the company, valued at $1,271,000. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on XRX. Zacks Investment Research cut Xerox from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. ValuEngine cut Xerox from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 26th. Citigroup began coverage on Xerox in a research report on Friday, July 20th. They set a “buy” rating and a $39.00 price objective on the stock. Standpoint Research raised Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Xerox from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $35.90.

About Xerox

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.

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Dividend History for Xerox (NYSE:XRX)

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