Xerox Corp. (NYSE:XRX) posted its earnings results on Friday. The company reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The company earned $4.20 billion during the quarter, compared to the consensus estimate of $4.31 billion. Xerox Corp. had a net margin of 2.49% and a return on equity of 12.36%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. Xerox Corp. updated its Q4 guidance to $0.32-0.35 EPS.
Xerox Corp. (NYSE:XRX) opened at 9.84 on Monday. The stock has a 50 day moving average of $9.82 and a 200-day moving average of $9.82. Xerox Corp. has a 52 week low of $8.48 and a 52 week high of $11.39. The firm has a market cap of $9.97 billion, a PE ratio of 25.69 and a beta of 1.29.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Thursday, December 15th will be paid a $0.0775 dividend. This represents a $0.31 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Tuesday, December 13th. Xerox Corp.’s dividend payout ratio is 50.00%.
In related news, insider Herve Tessler sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $9.89, for a total value of $128,570.00. Following the completion of the transaction, the insider now directly owns 110,319 shares of the company’s stock, valued at $1,091,054.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ursula M. Burns sold 3,317 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $9.85, for a total transaction of $32,672.45. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. purchased a new position in Xerox Corp. during the second quarter valued at $101,000. Concert Wealth Management Inc. boosted its position in Xerox Corp. by 0.6% in the third quarter. Concert Wealth Management Inc. now owns 10,375 shares of the company’s stock worth $104,000 after buying an additional 59 shares during the period. Raymond James Trust N.A. boosted its position in Xerox Corp. by 10.2% in the second quarter. Raymond James Trust N.A. now owns 11,703 shares of the company’s stock worth $111,000 after buying an additional 1,088 shares during the period. Eaton Vance Management boosted its position in Xerox Corp. by 0.7% in the second quarter. Eaton Vance Management now owns 11,873 shares of the company’s stock worth $113,000 after buying an additional 88 shares during the period. Finally, First Hawaiian Bank bought a new position in Xerox Corp. during the third quarter worth approximately $113,000. 83.85% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the stock. BMO Capital Markets boosted their target price on shares of Xerox Corp. from $10.00 to $10.50 and gave the stock a “market perform” rating in a research report on Monday, August 1st. Vetr cut shares of Xerox Corp. from a “strong-buy” rating to a “hold” rating and set a $9.96 price objective for the company. in a research note on Tuesday, September 13th. Barclays PLC restated an “underweight” rating and issued a $11.00 price objective (up from $10.00) on shares of Xerox Corp. in a research note on Tuesday, August 2nd. Brean Capital restated a “hold” rating on shares of Xerox Corp. in a research note on Monday, August 1st. Finally, Zacks Investment Research cut shares of Xerox Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Xerox Corp. has a consensus rating of “Hold” and a consensus price target of $11.10.
About Xerox Corp.