Xerox (NYSE:XRX) Hits New 1-Year Low at $11.41

Xerox Holdings Co. (NYSE:XRX) shares hit a new 52-week low during trading on Friday . The stock traded as low as $11.41 and last traded at $11.43, with a volume of 231881 shares traded. The stock had previously closed at $11.61.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on XRX shares. Citigroup started coverage on shares of Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th. Finally, StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday.

Xerox Price Performance

The company’s 50-day moving average price is $13.47 and its 200-day moving average price is $16.09. The company has a market cap of $1.41 billion, a P/E ratio of -7.39 and a beta of 1.58. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 1.07.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates 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 revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. As a group, sell-side analysts predict that Xerox Holdings Co. will post 2.05 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders 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 8.81%. The ex-dividend date is Friday, June 28th. Xerox’s dividend payout ratio is presently -63.69%.

Institutional Trading of Xerox

Hedge funds have recently modified their holdings of the stock. Graham Capital Management L.P. bought a new position in Xerox during the third quarter worth about $336,000. Public Sector Pension Investment Board bought a new position in Xerox in the 3rd quarter valued at about $2,194,000. American Century Companies Inc. increased its holdings in Xerox by 520.9% in the 3rd quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock valued at $5,933,000 after buying an additional 317,233 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Xerox by 93.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 38,481 shares of the information technology services provider’s stock valued at $604,000 after buying an additional 18,624 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Xerox by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after buying an additional 1,464,851 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.