Xerox Holdings Co. (NYSE:XRX – Get Rating) announced a quarterly dividend on Thursday, May 19th, RTT News reports. Shareholders of record on Thursday, June 30th will be paid a dividend of 0.25 per share by the information technology services provider on Monday, August 1st. This represents a $1.00 annualized dividend and a yield of 6.17%. The ex-dividend date of this dividend is Wednesday, June 29th.
Xerox has decreased its dividend by an average of 2,500.0% annually over the last three years.
Shares of XRX opened at $16.22 on Tuesday. The stock has a market capitalization of $2.51 billion, a P/E ratio of 13.50 and a beta of 1.67. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $17.52 and a two-hundred day simple moving average of $19.73. Xerox has a twelve month low of $15.37 and a twelve month high of $24.99.
Xerox (NYSE:XRX – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The information technology services provider reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.24). Xerox had a positive return on equity of 4.85% and a negative net margin of 7.86%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts expect that Xerox will post 1.21 EPS for the current fiscal year.
What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%!
When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.
In other Xerox news, major shareholder Carl C. Icahn purchased 1,346,523 shares of the firm’s stock in a transaction that occurred on Friday, April 22nd. The stock was bought at an average cost of $16.96 per share, for a total transaction of $22,837,030.08. Following the purchase, the insider now directly owns 33,461,414 shares in the company, valued at $567,505,581.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Carl C. Icahn acquired 783,900 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The shares were purchased at an average cost of $17.17 per share, for a total transaction of $13,459,563.00. Following the completion of the transaction, the insider now directly owns 34,245,314 shares in the company, valued at approximately $587,992,041.38. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors grew its position in Xerox by 34.7% during the 1st quarter. Captrust Financial Advisors now owns 5,521 shares of the information technology services provider’s stock valued at $113,000 after purchasing an additional 1,422 shares during the last quarter. Covestor Ltd grew its position in Xerox by 36.3% during the 1st quarter. Covestor Ltd now owns 6,575 shares of the information technology services provider’s stock valued at $133,000 after purchasing an additional 1,751 shares during the last quarter. US Bancorp DE grew its position in Xerox by 24.4% during the 1st quarter. US Bancorp DE now owns 8,232 shares of the information technology services provider’s stock valued at $167,000 after purchasing an additional 1,615 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Xerox during the 1st quarter valued at about $241,000. Finally, Mariner LLC purchased a new stake in shares of Xerox during the 1st quarter valued at about $243,000. 87.00% of the stock is currently owned by institutional investors.
Several research analysts have commented on the stock. StockNews.com assumed coverage on shares of Xerox in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley decreased their price objective on shares of Xerox from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, April 22nd. Finally, Citigroup decreased their price objective on shares of Xerox from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, April 22nd.
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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