Xerox (NYSE:XRX) Hits New 52-Week Low at $10.28

Xerox Holdings Co. (NYSE:XRX)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.28 and last traded at $10.38, with a volume of 1904424 shares changing hands. The stock had previously closed at $10.77.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday, April 24th. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Citigroup assumed coverage on Xerox in a report on Friday, June 28th. They issued a “sell” rating and a $11.00 price target on the stock.

Xerox Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.48. The stock has a market cap of $1.29 billion, a P/E ratio of -6.61 and a beta of 1.58. The stock has a fifty day simple moving average of $12.56 and a 200-day simple moving average of $15.24.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Xerox had a positive return on equity of 7.49% and a negative net margin of 1.60%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the business posted $0.44 EPS. Xerox’s quarterly revenue was down 10.0% on a year-over-year basis. Equities analysts expect that Xerox Holdings Co. will post 1.88 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.63%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Hedge Funds Weigh In On Xerox

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Xerox by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock valued at $292,937,000 after buying an additional 190,034 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Xerox by 10.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock valued at $29,090,000 after buying an additional 153,144 shares during the last quarter. Allianz Asset Management GmbH raised its position in Xerox by 1.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock valued at $19,154,000 after buying an additional 15,408 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Xerox by 3.5% in the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock valued at $17,662,000 after buying an additional 33,590 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in Xerox in the 4th quarter valued at approximately $14,832,000. Institutional investors 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.