Xerox (NYSE:XRX) Reaches New 12-Month Low at $11.86

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on XRX shares. JPMorgan Chase & Co. decreased their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th. Citigroup initiated coverage on shares of Xerox in a research report on Friday. They issued a “sell” rating and a $11.00 target price for the company. Finally, StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th.

Xerox Stock Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 1.07. The company has a market capitalization of $1.48 billion, a PE ratio of -7.83 and a beta of 1.63. The company has a 50 day moving average of $13.83 and a two-hundred day moving average of $16.27.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was down 12.8% compared to the same quarter last year. As a group, equities research analysts predict that Xerox Holdings Co. will post 2.05 earnings per share for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.40%. Xerox’s payout ratio is currently -63.69%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its position in shares of Xerox by 1.1% in the 3rd quarter. UBS Group AG now owns 146,043 shares of the information technology services provider’s stock worth $2,291,000 after purchasing an additional 1,635 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Xerox by 16.0% in the third quarter. Deutsche Bank AG now owns 55,732 shares of the information technology services provider’s stock worth $874,000 after buying an additional 7,698 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Xerox by 65.2% during the third quarter. Invesco Ltd. now owns 1,281,942 shares of the information technology services provider’s stock valued at $20,114,000 after buying an additional 506,117 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Xerox by 56.9% during the third quarter. Federated Hermes Inc. now owns 189,298 shares of the information technology services provider’s stock valued at $2,970,000 after acquiring an additional 68,632 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in Xerox by 41.1% in the 3rd quarter. Trexquant Investment LP now owns 203,175 shares of the information technology services provider’s stock worth $3,188,000 after acquiring an additional 59,209 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Xerox

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.