Xerox (XRX) Crumbles: Stock Falls 5.6%

Zacks

Xerox Corporation (XRX) saw a big move last session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for XRX, as the stock is now down about 15% since Jan 16.

This business process and document management services provider has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (no increases or decreases). The consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

XRX currently has a Zacks Rank #3 (Sell) while its Earnings ESP is 0.00%.

Some better-ranked stocks in the Office Automation and Equipment industry include Konica Minolta, Inc. (KNCAY) and Seiko Epson Corp. (SEKEY). However, in the broader Computer and Technology sector, a better-ranked stock is Cognizant Technology Solutions Corporation (CTSH) that carries with a Zacks Rank #1(Buy).

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