Xerox (NYSE:XRX) Now Covered by Analysts at Credit Suisse Group


Investment analysts at Credit Suisse Group began coverage on shares of Xerox (NYSE:XRX – Get Rating) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set an “underperform” rating on the information technology services provider’s stock.

A number of other analysts also recently commented on the company. Morgan Stanley decreased their price target on Xerox from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, April 22nd. Citigroup decreased their target price on Xerox from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, April 22nd. TheStreet lowered shares of Xerox from a “c-” rating to a “d+” rating in a research report on Thursday, July 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Xerox from $16.00 to $14.00 and set an “underweight” rating on the stock in a research report on Thursday, July 14th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $14.00.

Xerox Stock Up 0.7%

NYSE XRX traded up $0.14 on Tuesday, reaching $19.25. The company had a trading volume of 44,261 shares, compared to its average volume of 1,768,361. The company has a quick ratio of 0.98, a current ratio of 1.20 and a debt-to-equity ratio of 0.71. The company’s fifty day moving average is $16.19 and its 200 day moving average is $18.18. Xerox has a 52-week low of $13.24 and a 52-week high of $24.14. The stock has a market capitalization of $2.99 ​​billion, a P/E ratio of -4.91 and a beta of 1.70.

pixel

Ad RJO Futures

Tailor an Options Trading Strategy to Fit Your Needs

This guide will help you identify and execute an options trading strategy that fits your specific needs and risk profile. Take your trading to the next level with the Options Strategy Guide.

Xerox (NYSE:XRX – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The information technology services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Xerox had a negative net margin of 9.28% and a positive return on equity of 3.66%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm earned $0.47 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. Sell-side analysts anticipate that Xerox will post 1.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xerox

Institutional investors and hedge funds have recently made changes to their positions in the business. Icahn Carl C boosted its position in shares of Xerox by 6.6% during the 2nd quarter. Icahn Carl C now owns 34,245,314 shares of the information technology services provider’s stock valued at $508,543,000 after acquiring an additional 2,130,423 shares during the last quarter. JPMorgan Chase & Co. Its stake in Xerox grew by 256.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,997,708 shares of the information technology services provider’s stock worth $29,665,000 after buying an additional 1,436,711 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of Xerox in the 1st quarter worth $13,318,000. Dimensional Fund Advisors LP lifted its holdings in shares of Xerox by 9.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,354,931 shares of the information technology services provider’s stock worth $148,352,000 after acquiring an additional 624,234 shares during the last quarter. Finally, State Street Corp grew its position in Xerox by 14.8% in the second quarter. State Street Corp now owns 4,706,349 shares of the information technology services provider’s stock worth $71,049,000 after acquiring an additional 607,148 shares in the last quarter. Hedge funds and other institutional investors own 87.00% of the company’s stock.

About Xerox

(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.

Featured Articles

The Fly logo

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Xerox, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Xerox wasn’t on the list.

While Xerox currently has a “Reduce” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

.

Leave a Comment

Your email address will not be published.