Why No love for Xerox?
I blogged about this stock before. I look at the numbers and don't understand why this stock is selling so cheaply. Yeah they blew it big time back when by letting Jobs and Gates pretty much raid their "office of the future" ideas, but this company is in the midst of a transformation. The purchase of ACS was a great move in my opinion, moving away from mere products to IT. The company spins off a good chunk of change as free cash flow and has been using it to buy back its shares. And at this price this is when they should be buying (at the cheap). The company does project around a 1.10ish overall eps for this year. At current price this is more than outright bearish numbers.
While I understand the European weakness connection, nevertheless eps is still projected to grow, even if some of that growth is a result of share buybacks. Pays a somewhat decent dividend too (way more than any bank cd). I keep adding to real life holdings since I am a patient man but am just curious as to what am I missing about this company.