DXC Technology Co (DXC) Expected to Announce Quarterly Sales of $5.33 Billion

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Wall Street analysts expect DXC Technology Co (NYSE:DXC) to post sales of $5.33 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for DXC Technology’s earnings, with estimates ranging from $5.28 billion to $5.44 billion. DXC Technology reported sales of $6.16 billion in the same quarter last year, which suggests a negative year over year growth rate of 13.5%. The business is expected to issue its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that DXC Technology will report full year sales of $21.59 billion for the current financial year, with estimates ranging from $21.44 billion to $21.72 billion. For the next year, analysts forecast that the business will post sales of $21.76 billion, with estimates ranging from $21.32 billion to $22.10 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for DXC Technology.

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

A number of equities analysts recently issued reports on DXC shares. ValuEngine downgraded shares of DXC Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Wolfe Research began coverage on shares of DXC Technology in a report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded shares of DXC Technology from a “strong sell” rating to a “hold” rating in a report on Monday, July 23rd. Cfra restated a “buy” rating and issued a $105.00 price objective on shares of DXC Technology in a report on Thursday, August 2nd. Finally, KeyCorp upped their price objective on shares of DXC Technology from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, August 8th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. DXC Technology presently has a consensus rating of “Buy” and a consensus target price of $103.82.

DXC stock traded down $1.92 during trading on Wednesday, reaching $90.99. The company had a trading volume of 1,167,793 shares, compared to its average volume of 1,890,206. DXC Technology has a 52 week low of $77.96 and a 52 week high of $107.85. The company has a market cap of $26.29 billion, a P/E ratio of 11.46, a PEG ratio of 1.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Wednesday, September 5th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $0.76 annualized dividend and a yield of 0.84%. DXC Technology’s payout ratio is presently 9.57%.

In other news, CFO Paul N. Saleh sold 19,285 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $90.00, for a total transaction of $1,735,650.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John M. Lawrie sold 5,000 shares of the firm’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $93.90, for a total transaction of $469,500.00. The disclosure for this sale can be found here. Insiders sold 210,253 shares of company stock worth $19,141,381 over the last quarter. Insiders own 0.65% of the company’s stock.

Several hedge funds have recently made changes to their positions in DXC. Financial Gravity Wealth Inc. bought a new stake in DXC Technology in the 1st quarter valued at $223,000. Oppenheimer Asset Management Inc. bought a new stake in DXC Technology in the 1st quarter valued at $361,000. Fisher Asset Management LLC bought a new stake in DXC Technology in the 1st quarter valued at $229,000. PNC Financial Services Group Inc. increased its holdings in DXC Technology by 8.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 103,451 shares of the company’s stock valued at $10,401,000 after acquiring an additional 7,956 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its holdings in DXC Technology by 19.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,600 shares of the company’s stock valued at $563,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 85.16% of the company’s stock.

About DXC Technology

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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