Xerox Holdings Corp [NASDAQ: XRX] price plunged by -11.28 percent to reach at -$2.12. The company report on March 6, 2024 at 8:46 PM that Xerox Holdings Corporation Announces Pricing of Upsized Senior Notes Offering.
Xerox Holdings Corporation (NASDAQ: XRX) (the “Company”) announced today that it has priced an offering of $500 million aggregate principal amount of 8.875% Senior Notes due 2029 (“Notes”). The Notes will be issued at a price of 100% of their principal amount. The size of the offering was increased by $100 million subsequent to the initial announcement of the offering.
The Company intends to use the net proceeds from the sale of the Notes to (i) refinance all of its outstanding 3.800% Senior Notes due 2024 (“2024 Notes”) and a portion of its 5.000% Senior Notes due 2025 (“2025 Notes”), (ii) repay, repurchase or redeem a portion of its other outstanding indebtedness and (iii) to pay related fees and expenses.
The one-year XRX stock forecast points to a potential downside of -1.15. The average equity rating for XRX stock is currently 4.17, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Xerox Holdings Corp [XRX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for XRX shares is $16.48 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on XRX stock is a recommendation set at 4.17. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Xerox Holdings Corp shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on August 17, 2022. The new note on the price target was released on February 04, 2021, representing the official price target for Xerox Holdings Corp stock. Previously, the target price had yet another drop from $23 to $20, while Credit Suisse kept a Neutral rating on XRX stock.
The Average True Range (ATR) for Xerox Holdings Corp is set at 0.69, with the Price to Sales ratio for XRX stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 4.74. Price to Free Cash Flow for XRX in the course of the last twelve months was 3.19 with Quick ratio for the last quarter at 0.91.
XRX Stock Performance Analysis:
Xerox Holdings Corp [XRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.14. With this latest performance, XRX shares dropped by -6.30% in over the last four-week period, additionally sinking by -1.59% over the last 6 months – not to mention a drop of -0.24% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for XRX stock in for the last two-week period is set at 36.09, with the RSI for the last a single of trading hit 27.56, and the three-weeks RSI is set at 41.64 for Xerox Holdings Corp [XRX]. The present Moving Average for the last 50 days of trading for this stock 17.86, while it was recorded at 18.49 for the last single week of trading, and 15.76 for the last 200 days.
Insight into Xerox Holdings Corp Fundamentals:
Xerox Holdings Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.91 and a Current Ratio set at 1.14.
XRX Stock EPS
With the latest financial reports released by the company, Xerox Holdings Corp posted 0.49/share EPS, while the average EPS was predicted by analysts to be reported at 0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 188.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for XRX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Xerox Holdings Corp go to 6.88%.
Xerox Holdings Corp [XRX] Institutonal Ownership Details
The top three institutional holders of XRX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in XRX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in XRX stock with ownership which is approximately 5.8325%.
