Xerox (NYSE:XRX) Stock Price Up 1.9% – Should You Buy?

Xerox Holdings Co. (NYSE:XRX)’s stock price was up 1.9% during trading on Friday . The stock traded as high as $9.39 and last traded at $9.34. Approximately 386,708 shares were traded during trading, a decline of 83% from the average daily volume of 2,218,109 shares. The stock had previously closed at $9.17.

Analyst Ratings Changes

A number of brokerages recently commented on XRX. Morgan Stanley reduced their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Xerox presently has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Price Performance

The stock has a market cap of $1.15 billion, a PE ratio of -0.84 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The company has a fifty day moving average of $8.95 and a 200-day moving average of $10.35.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. Xerox’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. Sell-side analysts expect that Xerox Holdings Co. will post 1.12 EPS for the current fiscal year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 10.83%. Xerox’s dividend payout ratio (DPR) is currently -9.06%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP purchased a new stake in shares of Xerox in the third quarter valued at $29,000. US Bancorp DE boosted its holdings in shares of Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 1,888 shares during the last quarter. nVerses Capital LLC purchased a new position in Xerox during the second quarter worth about $78,000. International Assets Investment Management LLC increased its stake in shares of Xerox by 938.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock valued at $800,000 after acquiring an additional 7,504 shares during the last quarter. Finally, Plato Investment Management Ltd raised its stake in Xerox by 45.0% during the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock worth $109,000 after purchasing an additional 2,899 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

About Xerox

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.