Morgan Stanley Maintains Xerox Corp to Equal-weight with Price Target $10.30

Brokerage firm Morgan Stanley Maintains its rating on Xerox Corp(NYSE:XRX). In a research note issued to the investors, the brokerage major Lowers the price-target to $10.30 per share. The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Aug 1, 2016.

In a different note, On Aug 1, 2016, Citigroup said it Maintains its rating on Xerox Corp. In the research note, the firm Raises the price-target to $11.00 per share. The shares have been rated ‘Buy’ by the firm.

Xerox Corp (XRX) shares turned negative on Mondays trading session with the shares closing down -0.01 points or -0.10% at a volume of 42,53,685. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.06. The peak price level was also seen at $10.06 while the days lowest was $9.97. Finally the shares closed at $9.99. The 52-week high of the shares is $11.46 while the 52-week low is $8.48. According to the latest information available, the market cap of the company is $10,123 M.

Xerox Corp has also declared a cash dividend of $0.0775 on Jul 20, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 31, 2016.

Xerox Corp(XRX) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.38B. Analysts had an estimated revenue of $4.39B. Earnings per share were $0.30. Analysts had estimated an EPS of $0.25.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, James A Firestone (Executive Vice President) sold 50,000 shares at $9.36 per share price.

Xerox Corporation is engaged in offering business process and document management solutions. The Company operates through the following segments: Services Document Technology and Other. The Company’s customers include small and midsize businesses (SMBs) graphic communications companies Governmental entities educational institutions and Fortune 1000 corporate accounts. The Company’s Services segment provides two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO). It provides multi-industry offerings such as customer care transaction processing finance and accounting and human resources as well as industry focused offerings in areas such as healthcare transportation financial services retail and telecommunications. The Company’s Document Technology segment includes the sale of products and supplies as well as the associated technical service and financing of those products.

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