Zacks: Brokerages Expect DXC Technology Co (NYSE:DXC) Will Post Quarterly Sales of $4.24 Billion

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Wall Street analysts expect DXC Technology Co (NYSE:DXC) to announce sales of $4.24 billion for the current quarter, according to Zacks. Three analysts have made estimates for DXC Technology’s earnings. The highest sales estimate is $4.40 billion and the lowest is $3.93 billion. DXC Technology reported sales of $4.89 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 13.3%. The business is expected to announce its next quarterly earnings report on Thursday, August 13th.

On average, analysts expect that DXC Technology will report full-year sales of $17.01 billion for the current fiscal year, with estimates ranging from $16.56 billion to $17.95 billion. For the next fiscal year, analysts forecast that the company will report sales of $15.58 billion, with estimates ranging from $11.87 billion to $18.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for DXC Technology.

DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, May 28th. The company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.23. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.86 billion. DXC Technology had a negative net margin of 27.42% and a positive return on equity of 16.91%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.19 earnings per share.

DXC has been the subject of several research analyst reports. JPMorgan Chase & Co. cut shares of DXC Technology from an “overweight” rating to a “neutral” rating and cut their target price for the company from $25.00 to $17.00 in a research note on Friday, May 29th. Citigroup dropped their target price on shares of DXC Technology from $31.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Cfra decreased their price objective on shares of DXC Technology from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Moffett Nathanson raised shares of DXC Technology from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, March 12th. Finally, Zacks Investment Research raised shares of DXC Technology from a “sell” rating to a “hold” rating and set a $20.00 price objective on the stock in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. DXC Technology has an average rating of “Hold” and an average price target of $34.86.

NYSE DXC opened at $16.08 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.69. The company has a fifty day simple moving average of $16.15 and a 200 day simple moving average of $23.21. The company has a market cap of $3.93 billion, a P/E ratio of -0.76 and a beta of 2.35. DXC Technology has a 1 year low of $7.90 and a 1 year high of $57.23.

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in DXC Technology by 363.2% during the 1st quarter. Royal Bank of Canada now owns 497,659 shares of the company’s stock worth $6,495,000 after acquiring an additional 390,226 shares during the last quarter. AXA acquired a new stake in DXC Technology during the 1st quarter worth approximately $153,000. Skandinaviska Enskilda Banken AB publ raised its holdings in DXC Technology by 26.4% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 43,164 shares of the company’s stock worth $563,000 after buying an additional 9,015 shares during the period. 1832 Asset Management L.P. acquired a new stake in DXC Technology during the 1st quarter worth approximately $6,252,000. Finally, The Manufacturers Life Insurance Company raised its holdings in DXC Technology by 16.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 279,207 shares of the company’s stock worth $3,643,000 after buying an additional 38,511 shares during the period. 86.04% of the stock is currently owned by institutional investors and hedge funds.

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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