Loop Capital Lowers Xerox (NYSE:XRX) Price Target to $11.00

Xerox (NYSE:XRX) had its target price trimmed by Loop Capital from $14.00 to $11.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the information technology services provider’s stock.

Several other research analysts also recently commented on XRX. Citigroup assumed coverage on Xerox in a research note on Friday, June 28th. They set a sell rating and a $11.00 target price for the company. StockNews.com cut shares of Xerox from a buy rating to a hold rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their target price on Xerox from $18.00 to $17.00 and set an underweight rating for the company in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $12.75.

Xerox Stock Up 1.7 %

Shares of XRX stock opened at $10.25 on Wednesday. The firm’s fifty day moving average price is $11.62 and its two-hundred day moving average price is $14.64. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. Xerox has a 1 year low of $9.51 and a 1 year high of $19.78. The firm has a market capitalization of $1.27 billion, a P/E ratio of -6.53 and a beta of 1.58.

Xerox (NYSE:XRX) last released its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. Xerox’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. On average, equities analysts predict that Xerox will post 1.88 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.76%. The ex-dividend date is Monday, September 30th. Xerox’s payout ratio is -63.69%.

Institutional Trading of Xerox

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Xerox during the fourth quarter worth $25,000. CWM LLC raised its holdings in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in Xerox by 38.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after buying an additional 630 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Xerox in the 1st quarter valued at about $45,000. Finally, TFO Wealth Partners LLC lifted its stake in Xerox by 30,127.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after buying an additional 3,314 shares during the period. 85.36% of the stock is 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.