A number of research firms have changed their ratings and price targets for Xerox (NYSE: XRX):

  • 11/14/2019 – Xerox was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 11/12/2019 – Xerox was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $38.00 price target on the stock, up previously from $31.00.
  • 11/3/2019 – Xerox was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $36.00 price target on the stock. According to Zacks, “Xerox's third-quarter 2019 earnings beat the Zacks Consensus Estimate but revenues missed the same. The company’s bottom line is benefiting from "Project Own It," an initiative aimed at increasing productivity and operational efficiency, reducing costs and realigning business to changing market conditions. Xerox has an aggressive product development program in new high growth markets. Its post-sale driven business model provides significant cash generation capacity. Reorganization under a new holding company should help Xerox attain greater strategic, operational and financial flexibility. Year to date, the stock has outperformed the industry. On the flip side, Xerox continues to grapple with decreased demand for paper-related systems and products. Revenues have declined over years.”
  • 10/30/2019 – Xerox was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating. They now have a $31.00 price target on the stock.
  • 10/30/2019 – Xerox had its price target raised by analysts at Credit Suisse Group AG from $42.00 to $43.00. They now have an “outperform” rating on the stock.

Shares of XRX opened at $38.65 on Friday. Xerox Corp has a 1-year low of $18.58 and a 1-year high of $39.38. The stock has a market cap of $8.29 billion, a PE ratio of 11.17 and a beta of 1.79. The firm has a 50-day simple moving average of $31.87 and a two-hundred day simple moving average of $32.12. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.91.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.22. Xerox had a net margin of 7.28% and a return on equity of 19.62%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Xerox Corp will post 4.05 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Monday, December 30th. Xerox’s payout ratio is 28.90%.

In other news, EVP Herve Tessler sold 32,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total value of $1,005,284.00. Following the completion of the transaction, the executive vice president now owns 11,804 shares of the company’s stock, valued at $368,520.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of XRX. APG Asset Management N.V. boosted its stake in shares of Xerox by 256.7% in the second quarter. APG Asset Management N.V. now owns 3,973,815 shares of the information technology services provider’s stock valued at $123,562,000 after purchasing an additional 2,859,700 shares during the period. Prudential Financial Inc. boosted its stake in shares of Xerox by 187.0% in the second quarter. Prudential Financial Inc. now owns 2,465,149 shares of the information technology services provider’s stock valued at $87,291,000 after purchasing an additional 1,606,245 shares during the period. AQR Capital Management LLC boosted its stake in shares of Xerox by 21.5% in the second quarter. AQR Capital Management LLC now owns 7,337,000 shares of the information technology services provider’s stock valued at $258,262,000 after purchasing an additional 1,300,415 shares during the period. Invesco Ltd. boosted its stake in shares of Xerox by 22.8% in the second quarter. Invesco Ltd. now owns 6,208,273 shares of the information technology services provider’s stock valued at $219,834,000 after purchasing an additional 1,153,427 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Xerox by 68.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,543,039 shares of the information technology services provider’s stock valued at $90,051,000 after purchasing an additional 1,034,734 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

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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