Xerox Corp (XRX) Plans $0.25 Quarterly Dividend

Xerox Corp (NYSE:XRX) declared a quarterly dividend on Thursday, October 18th, RTT News reports. Investors of record on Monday, December 31st will be given a dividend of 0.25 per share by the information technology services provider on Thursday, January 31st. This represents a $1.00 annualized dividend and a yield of 3.74%.

Xerox has raised its dividend by an average of 2.7% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Xerox has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Xerox to earn $3.37 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 29.7%.

NYSE:XRX opened at $26.71 on Friday. The firm has a market capitalization of $6.82 billion, a P/E ratio of 7.84 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.84. Xerox has a 12 month low of $23.52 and a 12 month high of $37.42.

Xerox (NYSE:XRX) last posted its earnings results on Thursday, July 26th. The information technology services provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Xerox had a net margin of 1.22% and a return on equity of 16.63%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.87 EPS. Analysts predict that Xerox will post 3.3 EPS for the current fiscal year.

In other Xerox news, insider Herve Tessler sold 16,567 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $26.03, for a total value of $431,239.01. Following the completion of the transaction, the insider now owns 34,647 shares in the company, valued at $901,861.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Cozza acquired 50,000 shares of the firm’s stock in a transaction on Friday, July 27th. The stock was bought at an average price of $25.42 per share, with a total value of $1,271,000.00. Following the purchase, the chairman now directly owns 50,000 shares of the company’s stock, valued at $1,271,000. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Several equities analysts recently commented on the company. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. JPMorgan Chase & Co. dropped their target price on Xerox from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, July 27th. Citigroup initiated coverage on Xerox in a report on Friday, July 20th. They issued a “buy” rating and a $39.00 target price on the stock. Standpoint Research upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Finally, ValuEngine downgraded shares of Xerox from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.90.

About Xerox

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.

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Dividend History for Xerox (NYSE:XRX)

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