Xerox (NYSE:XRX) Sets New 52-Week Low – What’s Next?

Shares of Xerox Holdings Co. (NYSE:XRX) reached a new 52-week low during trading on Monday . The stock traded as low as $3.71 and last traded at $3.99, with a volume of 4370745 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Trading Up 3.0 %

The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The firm has a 50-day moving average of $6.71 and a 200-day moving average of $8.37. The firm has a market capitalization of $516.16 million, a P/E ratio of -0.38 and a beta of 1.56.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 12.14%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s dividend payout ratio is -4.66%.

Institutional Investors Weigh In On Xerox

Several institutional investors have recently added to or reduced their stakes in XRX. Picton Mahoney Asset Management raised its stake in shares of Xerox by 330.5% during the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 2,885 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in Xerox during the 4th quarter valued at about $51,000. KBC Group NV raised its position in Xerox by 84.5% during the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 4,224 shares during the last quarter. Marathon Trading Investment Management LLC purchased a new stake in Xerox in the 4th quarter worth approximately $84,000. Finally, Sterling Capital Management LLC grew its position in shares of Xerox by 48.9% in the 4th quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider’s stock worth $85,000 after buying an additional 3,319 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.