Wall Street brokerages expect DXC Technology (NYSE:DXC) to announce sales of $6.12 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for DXC Technology’s earnings. The highest sales estimate is $6.21 billion and the lowest is $6.04 billion. DXC Technology posted sales of $1.89 billion in the same quarter last year, which suggests a positive year over year growth rate of 223.8%. The company is scheduled to report its next quarterly earnings results on Thursday, May 24th.
According to Zacks, analysts expect that DXC Technology will report full year sales of $24.38 billion for the current fiscal year, with estimates ranging from $24.30 billion to $24.47 billion. For the next financial year, analysts anticipate that the business will post sales of $24.25 billion per share, with estimates ranging from $23.80 billion to $24.60 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow DXC Technology.
DXC Technology (NYSE:DXC) last released its earnings results on Thursday, February 8th. The company reported $2.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.16. DXC Technology had a return on equity of 17.97% and a net margin of 5.18%. The firm had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.19 billion. The company’s revenue for the quarter was up 222.7% compared to the same quarter last year.
DXC has been the subject of a number of analyst reports. Zacks Investment Research downgraded DXC Technology from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Morgan Stanley boosted their price target on DXC Technology from $104.00 to $114.00 and gave the company an “overweight” rating in a report on Monday, February 5th. KeyCorp boosted their price target on DXC Technology from $107.00 to $116.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. SunTrust Banks raised DXC Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Finally, Deutsche Bank boosted their price target on DXC Technology from $90.00 to $100.00 and gave the company a “hold” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. DXC Technology currently has an average rating of “Buy” and a consensus price target of $105.17.
In other news, insider John M. Lawrie sold 9,900 shares of the company’s stock in a transaction that occurred on Wednesday, April 11th. The stock was sold at an average price of $102.35, for a total transaction of $1,013,265.00. Following the completion of the transaction, the insider now directly owns 638,610 shares of the company’s stock, valued at approximately $65,361,733.50. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in DXC. First Republic Investment Management Inc. raised its stake in shares of DXC Technology by 137.9% during the 3rd quarter. First Republic Investment Management Inc. now owns 14,617 shares of the company’s stock worth $1,256,000 after buying an additional 8,474 shares during the period. Jane Street Group LLC purchased a new stake in shares of DXC Technology during the third quarter worth approximately $339,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of DXC Technology by 15.3% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,659 shares of the company’s stock worth $657,000 after purchasing an additional 1,018 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of DXC Technology during the third quarter worth approximately $2,284,000. Finally, California Public Employees Retirement System increased its position in shares of DXC Technology by 1.5% during the third quarter. California Public Employees Retirement System now owns 653,530 shares of the company’s stock worth $56,125,000 after purchasing an additional 9,383 shares in the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.
Shares of DXC Technology stock traded up $0.75 on Friday, reaching $103.83. 111,825 shares of the stock were exchanged, compared to its average volume of 1,753,840. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.48. DXC Technology has a twelve month low of $73.51 and a twelve month high of $107.85. The company has a market capitalization of $29,448.71, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Stockholders of record on Wednesday, March 28th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, March 27th. DXC Technology’s payout ratio is 23.23%.
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DXC Technology Company Profile
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.
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