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Xerox Corporation ($XRX) Stock Forecast: Up 5.5% Today

Morpher AI identified a bullish signal. The stock price may continue to rise based on the momentum of the good news.

What is Xerox Corporation?

Xerox Holdings Corporation (XRX) is a multinational corporation known for its document technology products and services. Today, the stock experienced a strong bullish movement in the market.

Why is Xerox Corporation going up?

XRX stock is up 5.5% on Jul 17, 2024 15:07

  • Xerox's bullish movement today can be attributed to the positive impact of its enterprise-wide transformation initiative, "Project Own It," aimed at enhancing productivity and operational efficiency.
  • The downgrade from a buy rating to a hold rating might have initially caused some uncertainty in the market, but it seems that investors are focusing more on the long-term benefits of Xerox's transformation initiative.
  • Analysts' mixed ratings and price targets may have created some volatility, but ultimately, the high dividend yield of 8.41% could be attracting investors looking for stable returns in times of market turbulence.
  • The overall positive sentiment towards dividend-yielding stocks, especially in the tech sector, amidst market uncertainties could have also contributed to Xerox's bullish movement today.

XRX Price Chart

XRX News

Wall Street''s Most Accurate Analysts Give Their Take On 3 Tech Stocks With Over 3% Dividend Yields

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout . Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga''s extensive database of analyst ratings, including by analyst accuracy . Below are the ratings of the most accurate analysts for three high-yielding stocks in the information technology sector. Xerox Holdings Corporation (NASDAQ: XRX ) Dividend Yield: 8.41% Citigroup analyst Asiya Merchant initiated coverage on the stock with a Sell rating and a price target of $11 on June 28. This analyst has an accuracy rate of 79%. JP Morgan analyst Samik Chatterjee maintained an Underweight rating and cut the price target from $18 to $17 on April 24. This analyst has an accuracy rate of 75%.

https://www.benzinga.com/news/24/07/39813630/wall-streets-most-accurate-analysts-give-their-take-on-3-tech-stocks-with-over-3-dividend-yields

News Article Image Wall Street''s Most Accurate Analysts Give Their Take On 3 Tech Stocks With Over 3% Dividend Yields

3 Blue-Chip Stocks to Secure Your Financial Future

In investing, selecting the right blue-chip stocks can be the cornerstone of securing a stable and prosperous financial future. Here, the focus is on three blue-chip stocks with financial strength, market edge, and growth potential. These elements make them top candidates to fortify portfolios. Certainly, blue-chip stocks can weather economic fluctuations, deliver constant returns, and uphold robust financial health. This makes them indispensable assets. To begin with, the first company, a diversified multinational holding company, boasts a massive insurance float and a dominating investment edge. Similarly, the second one is a leading telecommunications giant that continues to make solid strides in broadband expansion and AI integration, cementing its status as a market leader in high-speed internet services. Finally, the third company, celebrated for its monthly dividend payments, excels in high-quality real estate acquisitions and disciplined investment strategies. Together, these stocks offer a unique window for growth and stability.

https://investorplace.com/2024/07/3-blue-chip-stocks-to-secure-your-financial-future/

News Article Image 3 Blue-Chip Stocks to Secure Your Financial Future

Why You Should Retain Xerox ( XRX ) in Your Portfolio Now

Xerox's (XRX) bottom line is benefiting from "Project Own It," an enterprise-wide transformation initiative aimed at increasing productivity and operational efficiency.

https://www.zacks.com/stock/news/2302915/why-you-should-retain-xerox-xrx-in-your-portfolio-now

News Article Image Why You Should Retain Xerox  ( XRX )  in Your Portfolio Now

Xerox ( NYSE:XRX ) Downgraded by StockNews.com to "Hold"

StockNews.com cut shares of Xerox ( NYSE:XRX - Free Report ) from a buy rating to a hold rating in a research note issued to investors on Wednesday. A number of other equities analysts have also recently weighed in on XRX. Citigroup initiated coverage on Xerox in a report on Friday, June 28th.

https://www.defenseworld.net/2024/07/11/xerox-nysexrx-downgraded-by-stocknews-com-to-hold.html

News Article Image Xerox  ( NYSE:XRX )  Downgraded by StockNews.com to "Hold"

Xerox Corporation Price History

17.06.2024 - XRX Stock was up 5.5%

  • Xerox's bullish movement today can be attributed to the positive impact of its enterprise-wide transformation initiative, "Project Own It," aimed at enhancing productivity and operational efficiency.
  • The downgrade from a buy rating to a hold rating might have initially caused some uncertainty in the market, but it seems that investors are focusing more on the long-term benefits of Xerox's transformation initiative.
  • Analysts' mixed ratings and price targets may have created some volatility, but ultimately, the high dividend yield of 8.41% could be attracting investors looking for stable returns in times of market turbulence.
  • The overall positive sentiment towards dividend-yielding stocks, especially in the tech sector, amidst market uncertainties could have also contributed to Xerox's bullish movement today.

16.06.2024 - XRX Stock was up 5.8%

  • Despite a recent downgrade, Xerox (XRX) saw a strong bullish movement on the market today.
  • Speculation regarding Xerox's potential as a high yield dividend stock with growth opportunities likely attracted investors, contributing to the positive market performance.
  • Mixed analyst opinions, including both downgrades and endorsements of its dividend yield potential, may have caused some market volatility but ultimately led to a positive shift in XRX's value.
  • Investors appeared to be focusing on Xerox's long-term dividend potential over short-term rating changes, resulting in the stock's upward momentum.

09.06.2024 - XRX Stock was down 5.0%

  • Xerox (XRX) experienced a bearish movement due to concerns about the company's growth prospects.
  • Despite being undervalued with a low forward earnings multiple, Xerox is seen as a potential "value trap" by analysts.
  • The market sentiment towards Xerox reflects doubts about the effectiveness of the company's restructuring efforts in addressing its growth slump.
  • Investors may be cautious about investing in Xerox until there are clear signs of improvement in its business performance.

28.05.2024 - XRX Stock was down 5.6%

  • Xerox's stock experienced a bearish movement today.
  • The appointment of Ursula Burns, former Xerox CEO, to the Pediatric Brain Tumor Foundation's Advisory Board might have led to a shift in focus and resources away from Xerox, impacting investor sentiment.
  • The news of significant layoffs in the tech industry, including Xerox, as part of strategic downsizing efforts, could have contributed to the negative market movement.
  • Xerox's partnership expansion with Tata Consultancy Services (TCS) for a transformation program, amidst plans to reduce its workforce by 15%, might have raised concerns about the company's restructuring efforts and future prospects.

13.05.2024 - XRX Stock was down 5.1%

  • XRX experienced a bearish movement due to continued decreased demand for paper-related systems and products.
  • The vindication of the XRX employee who claimed discrimination might have also negatively impacted the company's reputation and stock price.
  • The combination of decreased demand and negative publicity surrounding discrimination allegations likely contributed to the bearish market movement of XRX today.

23.03.2024 - XRX Stock was down 11.9%

  • A sales decline of 12.4% year-on-year was reported by Xerox, falling short of revenue and EPS estimates, resulting in a negative impact on the stock.
  • The decrease in equipment sales by 25.8% and post-sale revenue by 8.5% were major contributors to the overall decline in revenue.
  • Despite the unfavorable results, the company's top management remains positive about the future growth opportunities for Xerox, highlighting ongoing structural changes for long-term sustainability.
  • Xerox Holdings has reiterated its revenue outlook for FY24, which could offer some reassurance and hope to investors in light of the challenging Q1 performance.

06.02.2024 - XRX Stock was down 11.5%

  • Xerox recently disclosed its plan to offer $300 million of convertible senior notes, sparking concerns among investors regarding share dilution and potential effects on earnings per share. This development contributed to a bearish movement in the stock price.
  • Despite gaining recognition for its Intelligent Document Processing solutions, the focus on issuing convertible and senior notes appeared to diminish the positive news, leading to a decline in XRX stock.
  • The company's announcement of offering $400 million in senior notes due 2029 may have compounded the negative sentiment, with investors showing apprehension about Xerox's financial decisions and future obligations, putting additional pressure on the stock price.

06.02.2024 - XRX Stock was down 7.8%

  • The bearish movement in XRX stock today can be attributed to the following factors:
  • Xerox announcing a proposed convertible notes offering and issuing $400 million in senior notes due 2029 might have raised concerns among investors about the company's financial health and future obligations.
  • Despite receiving recognition for its Intelligent Document Processing solutions, the market may have reacted negatively to the news of Xerox offering senior unsecured notes, indicating a potential increase in debt levels.
  • The offering of senior notes due 2029 could have led to dilution fears among existing shareholders, impacting the stock price negatively.
  • The market conditions surrounding the offering of up to $400 million in aggregate principal amount of Senior Notes due 2029 might have added uncertainty and downward pressure on Xerox's stock price.

06.01.2024 - XRX Stock was up 5.0%

  • Jump Financial LLC and Mitsubishi UFJ Kokusai Asset Management Co. Ltd. both sold their holdings in XRX during the third quarter, which could have initially put downward pressure on the stock.
  • However, Principal Financial Group Inc. increased its stake in XRX during the same period, indicating confidence in the company's prospects.
  • The mixed sentiment from these transactions suggests that investors may have been uncertain about XRX's future performance.
  • Additionally, the lack of a summary in an article from Seeking Alpha, which reiterates a sell rating on XRX, could have contributed to the bearish sentiment surrounding the stock.
  • Despite these factors, the overall market movement for XRX today was bullish, indicating that other positive factors may have outweighed the negative sentiment.

27.00.2024 - XRX Stock was up 5.0%

  • Xerox had a strong bullish movement today.
  • The earnings call article suggests that despite a revenue decline, Xerox aims for growth.
  • The increase in Xerox's Relative Strength (RS) Rating indicates improved price strength.
  • The positive earnings report of Alaska Air Group and other big stocks moving higher on Thursday may have contributed to the bullish movement.
  • The layoffs in the videogame industry, specifically at Activision Blizzard, may not have a direct impact on Xerox's market movement.

31.09.2023 - XRX Stock was up 5.4%

  • Today, XRX experienced a strong bullish movement, despite underlying challenges and a marginal increase in Q3 revenues. The market movement could be attributed to the following factors:
  • 1. Positive Q3 Earnings: Despite the marginal increase in revenues, XRX reported better-than-expected earnings, which could have boosted investor confidence and contributed to the bullish movement.
  • 2. Strategic Transformation Plan: The earnings call highlighted Xerox's strategic transformation plan, outlining initiatives to address fundamental challenges and improve future growth prospects. This plan may have generated optimism among investors, leading to the bullish market movement.
  • 3. Macroeconomic Factors: While the articles mention fundamental challenges and a poor outlook, it is possible that the overall positive sentiment in the market or macroeconomic factors played a role in XRX's bullish movement. Market conditions and investor sentiment can sometimes override company-specific challenges in driving stock prices.
  • Overall, despite the underlying challenges, XRX's positive earnings and strategic transformation plan may have outweighed the concerns, leading to a bullish market movement.

24.09.2023 - XRX Stock was down 6.4%

  • Xerox reported a decline in sales for the third quarter of FY23, missing the consensus expectations.
  • Despite beating the analyst consensus for adjusted EPS, the decline in revenues at constant currency contributed to the bearish movement.
  • The company's outlook for full-year 2023 revenues also indicated an expected decline.
  • While Xerox reported strong Q3 earnings, the miss in revenue expectations may have contributed to the bearish market movement.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.