Xerox (NASDAQ:XRX) Stock Passes Above 200-Day Moving Average – Here’s Why

by · The Markets Daily

Xerox Holdings Co. (NASDAQ:XRXGet Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.55 and traded as high as $3.63. Xerox shares last traded at $3.62, with a volume of 3,671,419 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Xerox in a research report on Friday, July 24th. Needham & Company LLC set a $5.00 price objective on shares of Xerox in a report on Tuesday, August 18th. Citigroup reissued a “neutral” rating and issued a $3.45 target price (up from $2.50) on shares of Xerox in a research note on Friday, July 31st. Finally, Noble Financial began coverage on Xerox in a report on Tuesday, August 18th. They set an “outperform” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.48.

Get Our Latest Report on XRX

Xerox Stock Performance

The company has a debt-to-equity ratio of 12.58, a quick ratio of 0.85 and a current ratio of 1.18. The firm’s 50-day moving average price is $3.05 and its two-hundred day moving average price is $2.56. The stock has a market cap of $449.11 million, a price-to-earnings ratio of -0.46 and a beta of 2.42.

Xerox (NASDAQ:XRXGet Free Report) last released its quarterly earnings data on Thursday, July 30th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.32. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Xerox had a negative net margin of 11.93% and a positive return on equity of 17.61%. Xerox’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the business earned ($0.64) earnings per share. On average, analysts expect that Xerox Holdings Co. will post 0.17 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Xerox’s payout ratio is presently -1.36%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC raised its position in Xerox by 0.6% in the second quarter. Squarepoint Ops LLC now owns 584,825 shares of the information technology services provider’s stock valued at $1,831,000 after purchasing an additional 3,689 shares during the period. Gabelli Funds LLC grew its holdings in shares of Xerox by 13.7% during the 4th quarter. Gabelli Funds LLC now owns 58,000 shares of the information technology services provider’s stock worth $137,000 after purchasing an additional 7,000 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Xerox during the 2nd quarter worth about $28,000. Gamco Investors INC. ET AL increased its position in shares of Xerox by 1.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 564,000 shares of the information technology services provider’s stock worth $728,000 after purchasing an additional 9,800 shares during the last quarter. Finally, S Harris Financial Group LLC purchased a new stake in Xerox in the 4th quarter valued at about $25,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

About Xerox

(Get Free Report)

Xerox Holdings Corporation (NASDAQ:XRX) is a workplace technology and document management company that provides hardware, software and services for managing information and business processes. Its offerings include office printers, multifunction printers, production printers, digital printing systems and related supplies and support services.

The company also provides managed print services, document workflow solutions, content management tools and information technology services. These offerings are designed to help organizations digitize documents, automate workflows, improve communications and manage printing and other workplace processes.

Xerox traces its origins to the Haloid Company, founded in 1906.

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