Xerox Holdings Co. (NYSE:XRX – Get Rating) saw unusually large options trading on Wednesday. Stock investors acquired 1,689 put options on the stock. This is an increase of approximately 1,369% compared to the average daily volume of 115 put options.
Xerox Stock Performance
Shares of XRX stock opened at $15.36 on Thursday. The business has a 50 day simple moving average of $16.82 and a 200 day simple moving average of $17.44. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.98. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -3.92 and a beta of 1.69. Xerox has a 12-month low of $13.24 and a 12-month high of $24.14.
Get Xerox alerts:Xerox (NYSE:XRX – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The information technology services provider reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. Xerox had a positive return on equity of 3.66% and a negative net margin of 9.28%. The company's quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, equities research analysts anticipate that Xerox will post 1.13 EPS for the current year.
Xerox Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.51%. Xerox's payout ratio is currently -25.51%.Institutional Trading of Xerox
A number of hedge funds have recently modified their holdings of XRX. Icahn Carl C lifted its holdings in shares of Xerox by 6.6% in the second quarter. Icahn Carl C now owns 34,245,314 shares of the information technology services provider's stock valued at $508,543,000 after purchasing an additional 2,130,423 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Xerox by 256.1% during the second quarter. JPMorgan Chase & Co. now owns 1,997,708 shares of the information technology services provider's stock worth $29,665,000 after acquiring an additional 1,436,711 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Xerox during the first quarter worth $13,318,000. Dimensional Fund Advisors LP increased its position in Xerox by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 7,354,931 shares of the information technology services provider's stock worth $148,352,000 after buying an additional 624,234 shares during the last quarter. Finally, State Street Corp increased its position in Xerox by 14.8% during 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 buying an additional 607,148 shares during the last quarter. Hedge funds and other institutional investors own 94.58% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on XRX. TheStreet cut Xerox from a "c-" rating to a "d+" rating in a research note on Thursday, July 7th. JPMorgan Chase & Co. cut their price target on Xerox from $16.00 to $14.00 and set an "underweight" rating on the stock in a research note on Thursday, July 14th. Finally, Credit Suisse Group initiated coverage on Xerox in a research note on Tuesday, August 16th. They issued an "underperform" rating and a $14.00 price target on the stock. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $14.00.
About Xerox
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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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