Xerox (NYSE:XRX – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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XRX has been the topic of a number of other research reports. Morgan Stanley reduced their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Loop Capital cut their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. cut their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, Xerox presently has a consensus rating of “Reduce” and a consensus price target of $9.50.
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NYSE:XRX opened at $8.85 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The business’s 50-day simple moving average is $9.50 and its two-hundred day simple moving average is $10.94. The stock has a market cap of $1.10 billion, a PE ratio of -0.80 and a beta of 1.59. Xerox has a 52 week low of $8.02 and a 52 week high of $19.78.
Xerox (NYSE:XRX – Get Free Report) last posted its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, analysts forecast that Xerox will post 1.12 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in shares of Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after purchasing an additional 4,228,806 shares during the last quarter. Geode Capital Management LLC lifted its stake in Xerox by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Xerox by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after acquiring an additional 107,580 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after acquiring an additional 225,617 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Xerox by 9.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after purchasing an additional 69,183 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.
Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.
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