BMO Capital Markets reissued their outperform rating on shares of Xerox Corp. (NYSE:XRX) in a research report released on Wednesday morning, Stock Ratings Network reports. BMO Capital Markets currently has a $11.50 price objective on the stock, up from their previous price objective of $10.50.
“We come away from XRX annual analyst meeting a bit more encouraged. We found the strategy and detail more compelling than in years past. We believe that the new CFO is having a positive impact. With that said, we believe that XRX needs to execute more consistently against stated goals. Over the past few years, XRX has consistently missed top- and bottom-line guidance. However, at this point, we believe that expectations are realistic. We are not willing to suggest estimates have upside tension, but we think the valuation is reasonable such that XRX delivering on our/consensus expectations will cause the stock to move higher.,” the firm’s analyst wrote.
Xerox Corp. (NYSE:XRX) traded down 0.72% on Wednesday, hitting $10.96. The stock had a trading volume of 5,453,418 shares. Xerox Corp. has a 52 week low of $6.10 and a 52 week high of $11.15. The stock has a 50-day moving average of $10.37 and a 200-day moving average of $9.73. The company has a market cap of $13.493 billion and a price-to-earnings ratio of 11.95.
Xerox Corp. (NYSE:XRX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.01. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Analysts expect that Xerox Corp. will post $1.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.06 per share. This represents a $0.23 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, December 27th.
A number of other analysts have also recently weighed in on XRX. Analysts at Deutsche Bank reiterated a hold rating on shares of Xerox Corp. in a research note to investors on Friday, October 25th. They now have a $9.00 price target on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of Xerox Corp. in a research note to investors on Friday, October 25th. They now have a $10.00 price target on the stock. Finally, analysts at Brean Capital reiterated a buy rating on shares of Xerox Corp. in a research note to investors on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $10.64.
Xerox Corporation,provides a portfolio of business process and information technology (NYSE:XRX) outsourcing support, document technology and solutions.
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