Xerox (NYSE:XRX) Hits New 52-Week Low at $11.86

Xerox Holdings Co. (NYSE:XRX) reached a new 52-week low on Friday . The stock traded as low as $11.86 and last traded at $11.96, with a volume of 246974 shares traded. The stock had previously closed at $12.30.

Analyst Upgrades and Downgrades

XRX has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 24th. Citigroup started coverage on shares of Xerox in a research report on Friday. They set a “sell” rating and a $11.00 price objective on the stock. Finally, StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th.

Xerox Trading Down 3.5 %

The company has a market cap of $1.44 billion, a PE ratio of -7.40 and a beta of 1.63. The stock has a 50 day moving average price of $13.73 and a 200 day moving average price of $16.25. The company has a current ratio of 1.37, a quick ratio of 1.07 and a debt-to-equity ratio of 1.34.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.29). The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. Sell-side analysts predict that Xerox Holdings Co. will post 2.05 EPS for the current fiscal year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.61%. The ex-dividend date is Friday, June 28th. Xerox’s dividend payout ratio is -63.69%.

Institutional Investors Weigh In On Xerox

Several hedge funds have recently added to or reduced their stakes in the stock. SG Capital Management LLC purchased a new position in shares of Xerox in the 1st quarter worth about $8,466,000. DekaBank Deutsche Girozentrale increased its stake in Xerox by 30.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 36,693 shares of the information technology services provider’s stock valued at $638,000 after purchasing an additional 8,496 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Xerox in the first quarter worth about $115,000. Comerica Bank lifted its stake in shares of Xerox by 46.8% in the first quarter. Comerica Bank now owns 83,795 shares of the information technology services provider’s stock worth $1,500,000 after buying an additional 26,700 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Xerox by 235.6% during the first quarter. Tidal Investments LLC now owns 176,518 shares of the information technology services provider’s stock valued at $3,160,000 after buying an additional 123,922 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.