Brokerages Expect DXC Technology Co (NYSE:DXC) to Post $1.50 Earnings Per Share

Wall Street brokerages predict that DXC Technology Co (NYSE:DXC) will post earnings per share of $1.50 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for DXC Technology’s earnings. The highest EPS estimate is $1.79 and the lowest is $1.39. DXC Technology reported earnings of $2.02 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 25.7%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that DXC Technology will report full year earnings of $7.38 per share for the current fiscal year, with EPS estimates ranging from $7.08 to $7.80. For the next financial year, analysts forecast that the company will report earnings of $8.68 per share, with EPS estimates ranging from $8.12 to $9.30. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow DXC Technology.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.03. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.86 billion. DXC Technology had a return on equity of 19.57% and a net margin of 5.70%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share.

DXC has been the topic of a number of recent analyst reports. Bank of America cut their price target on DXC Technology from $64.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, August 9th. BMO Capital Markets cut DXC Technology from an “outperform” rating to a “market perform” rating and cut their price target for the company from $60.00 to $48.00 in a report on Friday, August 9th. Royal Bank of Canada reaffirmed a “buy” rating on shares of DXC Technology in a report on Sunday, August 11th. Wells Fargo & Co cut their price target on DXC Technology from $72.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. Finally, KeyCorp cut their price target on DXC Technology from $97.00 to $88.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $69.17.

Shares of DXC traded up $0.86 during mid-day trading on Wednesday, reaching $34.50. 3,641,597 shares of the company’s stock traded hands, compared to its average volume of 2,688,745. The business’s 50-day moving average price is $49.64 and its 200-day moving average price is $58.05. The stock has a market capitalization of $8.33 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.88 and a current ratio of 0.88. DXC Technology has a 12 month low of $30.11 and a 12 month high of $96.75.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.43%. DXC Technology’s dividend payout ratio is presently 10.07%.

In related news, insider John M. Lawrie acquired 4,166 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $56.26 per share, for a total transaction of $234,379.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joanne Mason sold 48,679 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $51.99, for a total transaction of $2,530,821.21. The disclosure for this sale can be found here. Insiders have purchased 22,066 shares of company stock worth $1,153,043 in the last quarter. Company insiders own 0.81% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of DXC. Coastal Investment Advisors Inc. increased its stake in shares of DXC Technology by 348.4% during the second quarter. Coastal Investment Advisors Inc. now owns 704 shares of the company’s stock valued at $25,000 after acquiring an additional 547 shares during the period. Liberty Wealth Management LLC increased its stake in shares of DXC Technology by 143.8% during the second quarter. Liberty Wealth Management LLC now owns 568 shares of the company’s stock valued at $31,000 after acquiring an additional 335 shares during the period. Truvestments Capital LLC acquired a new position in shares of DXC Technology during the first quarter valued at approximately $37,000. Cornerstone Advisors Inc. grew its position in DXC Technology by 100.0% in the first quarter. Cornerstone Advisors Inc. now owns 578 shares of the company’s stock worth $37,000 after buying an additional 289 shares during the last quarter. Finally, Covington Capital Management grew its position in DXC Technology by 346.3% in the second quarter. Covington Capital Management now owns 732 shares of the company’s stock worth $40,000 after buying an additional 568 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

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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Earnings History and Estimates for DXC Technology (NYSE:DXC)

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