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Xerox Shares Look Cheap Even With Stock’s 2017 Jump

The Xerox Corp. logo is displayed at the company's headquartThe Xerox Corp. logo is displayed at the company's headquart
UNITED STATES - APRIL 24: Xerox is on track to split into two companies, but is still in M&A talks to acquire financial printing firm RR Donnelley & Sons Co. (Photo by J. Gregory Raymond/Bloomberg via Getty Images)Bloomberg via Getty Images

Armed with a hefty dividend, Xerox Corp shares look cheap even as they have shot up this year following the company’s spin-off of its business processing business, according to an article in Barron’s.

The article says the printing and copying company’s new CEO wants to shift toward more small and midsize corporate customers and Xerox has undertaken a major cost-cutting program, while the shares offer a 3.4% dividend yield.

The article cites a portfolio manager for investment advisor ValueWorks as estimating the shares could nearly double, from Friday’s close of $7.36 to $14 in the next two years.