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Xerox Holdings Co. (NYSE:XRX – Get Rating) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 1,689 put options on the company. This is an increase of 1,369% compared to the average volume of 115 put options.
Xerox Stock Up 0.9 %
XRX stock opened at $16.60 on Thursday. Xerox has a twelve month low of $11.80 and a twelve month high of $24.07. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.58 billion, a P/E ratio of -2.41 and a beta of 1.72. The business’s 50-day moving average price is $15.38 and its 200-day moving average price is $15.63.
Xerox (NYSE:XRX – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The information technology services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.18). Xerox had a positive return on equity of 2.66% and a negative net margin of 16.10%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts forecast that Xerox will post 0.75 EPS for the current year.
Xerox Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Saturday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Thursday, December 29th. Xerox’s dividend payout ratio is currently -14.53%.
Insider Transactions at Xerox
In related news, Director Hernandez Margarita Palau acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The shares were bought at an average cost of $15.55 per share, for a total transaction of $155,500.00. Following the completion of the transaction, the director now owns 15,500 shares in the company, valued at $241,025. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On Xerox
Several hedge funds have recently bought and sold shares of XRX. Natixis purchased a new stake in shares of Xerox in the 2nd quarter worth $858,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Xerox in the second quarter valued at about $346,000. Sigma Planning Corp raised its stake in Xerox by 73.3% in the second quarter. Sigma Planning Corp now owns 35,747 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 15,115 shares during the last quarter. Captrust Financial Advisors raised its stake in Xerox by 39.8% in the second quarter. Captrust Financial Advisors now owns 7,716 shares of the information technology services provider’s stock valued at $117,000 after buying an additional 2,195 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Xerox by 7.8% in the second quarter. Advisors Asset Management Inc. now owns 628,316 shares of the information technology services provider’s stock valued at $9,330,000 after purchasing an additional 45,339 shares during the period. Institutional investors own 81.66% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on XRX shares. Citigroup dropped their price objective on Xerox from $15.00 to $10.00 and set a “sell” rating for the company in a research note on Wednesday, October 26th. Credit Suisse Group lowered their price objective on Xerox from $14.00 to $13.00 and set an “underperform” rating for the company in a research report on Tuesday, October 18th. StockNews.com initiated coverage on Xerox in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Morgan Stanley reduced their price target on Xerox from $14.00 to $11.00 and set an “underweight” rating for the company in a report on Monday, October 17th. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Based on data from MarketBeat.com, Xerox has an average rating of “Reduce” and an average price target of $12.00.
Xerox Company Profile
(Get Rating)
Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.
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