Xerox Corp (XRX) is Initiated by SunTrust to Buy

Xerox Corp (XRX) was Initiated by SunTrust to “Buy”. SunTrust advised their investors in a research report released on Sep 13, 2016.

On the company’s financial health, Xerox Corp reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.24. The company had revenue of $1385.00 million for the quarter, compared to analysts expectations of $4389.41 million. The company’s revenue was down -69.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

Xerox Corp opened for trading at $9.51 and hit $9.83 on the upside on Monday, eventually ending the session at $9.81, with a gain of 2.29% or 0.22 points. The heightened volatility saw the trading volume jump to 8,066,604 shares. Company has a market cap of $9,941 M.

Investors should note that on Jul 20, 2016, Xerox Corp announced a cash dividend of $0.0775. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 31, 2016.

In a different news, on Aug 17, 2016, Joseph H. Mancini (VP & Chief Accounting Officer) sold 1,699 shares at $10.03 per share price. According to the SEC, on Aug 17, 2016, Ursula M Burns (Chairman and CEO) sold 3,317 shares at $9.85 per share price. On Aug 4, 2016, Herve Tessler (Senior Vice President) sold 13,000 shares at $9.89 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Xerox Corp

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