$5.33 Billion in Sales Expected for DXC Technology Co (DXC) This Quarter

Brokerages forecast that DXC Technology Co (NYSE:DXC) will report $5.33 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for DXC Technology’s earnings, with the lowest sales estimate coming in at $5.28 billion and the highest estimate coming in at $5.44 billion. DXC Technology posted sales of $6.16 billion in the same quarter last year, which indicates a negative year over year growth rate of 13.5%. The company is expected to announce its next quarterly earnings results on Tuesday, November 6th.

On average, analysts expect that DXC Technology will report full-year sales of $21.59 billion for the current fiscal year, with estimates ranging from $21.44 billion to $21.72 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $21.76 billion per share, with estimates ranging from $21.32 billion to $22.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover DXC Technology.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.18. DXC Technology had a return on equity of 18.67% and a net margin of 7.74%. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.32 billion.

Several equities analysts have weighed in on the company. Wolfe Research assumed coverage on DXC Technology in a report on Tuesday, July 17th. They set an “outperform” rating for the company. Cfra reissued a “buy” rating and set a $105.00 price objective on shares of DXC Technology in a report on Thursday, August 2nd. Royal Bank of Canada reissued a “buy” rating and set a $103.00 price objective on shares of DXC Technology in a report on Wednesday, August 8th. BMO Capital Markets reduced their price objective on DXC Technology from $113.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, August 8th. Finally, Cantor Fitzgerald dropped their target price on DXC Technology from $97.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, August 9th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. DXC Technology presently has an average rating of “Buy” and an average price target of $104.38.

In related news, EVP Joanne Mason sold 1,726 shares of the stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $87.74, for a total value of $151,439.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul N. Saleh sold 50,000 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $92.03, for a total value of $4,601,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,753 shares of company stock worth $18,436,506. Company insiders own 0.65% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Delpha Capital Management LLC raised its position in shares of DXC Technology by 1,400.0% in the first quarter. Delpha Capital Management LLC now owns 4,410 shares of the company’s stock worth $443,000 after buying an additional 4,116 shares in the last quarter. Neuburgh Advisers LLC raised its position in shares of DXC Technology by 26.7% in the second quarter. Neuburgh Advisers LLC now owns 201,564 shares of the company’s stock worth $16,248,000 after buying an additional 42,416 shares in the last quarter. Weitz Investment Management Inc. raised its position in shares of DXC Technology by 9.0% in the second quarter. Weitz Investment Management Inc. now owns 487,852 shares of the company’s stock worth $39,326,000 after buying an additional 40,205 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of DXC Technology by 41.0% in the first quarter. GSA Capital Partners LLP now owns 24,382 shares of the company’s stock worth $2,451,000 after buying an additional 7,093 shares in the last quarter. Finally, Aurora Investment Counsel purchased a new stake in shares of DXC Technology in the second quarter worth $966,000. Institutional investors own 85.16% of the company’s stock.

NYSE DXC traded up $1.56 on Friday, hitting $96.38. 4,308,200 shares of the stock traded hands, compared to its average volume of 1,928,063. DXC Technology has a 12 month low of $77.96 and a 12 month high of $107.85. The firm has a market cap of $26.24 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.58 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Wednesday, September 5th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $0.76 annualized dividend and a dividend yield of 0.79%. DXC Technology’s dividend payout ratio is currently 9.57%.

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 three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).

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