Argus Reiterates “Buy” Rating for Xerox Corp. (XRX)
Xerox Corp. (NYSE:XRX)‘s stock had its “buy” rating reiterated by analysts at Argus in a research report issued to clients and investors on Tuesday, American Banking and Market News reports. They currently have a $15.00 target price on the stock, up from their previous target price of $13.00. Argus’ target price would indicate a potential upside of 34.41% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Xerox Corp. in a research note to investors on Wednesday, November 13th. They now have a $11.50 price target on the stock, up previously from $10.50. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.93.
Xerox Corp. (NYSE:XRX) traded down 0.58% on Tuesday, hitting $11.095. 2,102,227 shares of the company’s stock traded hands. Xerox Corp. has a 1-year low of $6.62 and a 1-year high of $11.70. The stock has a 50-day moving average of $10.73 and a 200-day moving average of $10.07. The company has a market cap of $13.659 billion and a price-to-earnings ratio of 12.08.
Xerox Corp. (NYSE:XRX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that Xerox Corp. will post $1.09 earnings per share for the current fiscal year.
Xerox Corporation,provides a portfolio of business process and information technology (NYSE:XRX) outsourcing support, document technology and solutions.
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