Zacks: Analysts Expect DXC Technology Co (NYSE:DXC) Will Post Quarterly Sales of $4.92 Billion

Wall Street analysts expect DXC Technology Co (NYSE:DXC) to post $4.92 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for DXC Technology’s earnings. The highest sales estimate is $5.15 billion and the lowest is $4.85 billion. DXC Technology reported sales of $5.28 billion during the same quarter last year, which indicates a negative year over year growth rate of 6.8%. The company is scheduled to announce its next quarterly earnings results on Tuesday, August 6th.

On average, analysts expect that DXC Technology will report full year sales of $20.83 billion for the current financial year, with estimates ranging from $20.70 billion to $20.99 billion. For the next fiscal year, analysts forecast that the company will post sales of $21.06 billion, with estimates ranging from $20.76 billion to $21.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover DXC Technology.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, May 23rd. The company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.12. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.30 billion. DXC Technology had a net margin of 6.06% and a return on equity of 20.08%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 EPS.

DXC has been the subject of a number of recent analyst reports. Goldman Sachs Group downgraded shares of DXC Technology from a “conviction-buy” rating to a “buy” rating in a research report on Monday, April 22nd. Bank of America decreased their target price on shares of DXC Technology from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, May 31st. TheStreet downgraded shares of DXC Technology from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. Zacks Investment Research downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, Wells Fargo & Co decreased their target price on shares of DXC Technology from $72.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $80.92.

In other news, EVP Joanne Mason sold 1,768 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $52.29, for a total transaction of $92,448.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.65% of the company’s stock.

Several hedge funds have recently made changes to their positions in DXC. Vanguard Group Inc grew its position in shares of DXC Technology by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 20,616,012 shares of the company’s stock worth $1,928,010,000 after buying an additional 122,686 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of DXC Technology by 64.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 30,054 shares of the company’s stock worth $1,598,000 after buying an additional 11,789 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of DXC Technology by 148.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 585 shares of the company’s stock worth $31,000 after buying an additional 350 shares during the period. LS Investment Advisors LLC grew its position in shares of DXC Technology by 45.5% during the 4th quarter. LS Investment Advisors LLC now owns 14,484 shares of the company’s stock worth $770,000 after buying an additional 4,532 shares during the period. Finally, IndexIQ Advisors LLC grew its position in DXC Technology by 57.0% in the 4th quarter. IndexIQ Advisors LLC now owns 80,529 shares of the company’s stock valued at $4,282,000 after purchasing an additional 29,233 shares during the period. 85.36% of the stock is owned by institutional investors.

NYSE:DXC traded up $0.28 on Friday, reaching $51.72. 3,588,621 shares of the stock traded hands, compared to its average volume of 3,477,305. The company has a market capitalization of $13.80 billion, a PE ratio of 6.20, a P/E/G ratio of 1.61 and a beta of 1.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.00 and a current ratio of 0.97. DXC Technology has a 1-year low of $46.46 and a 1-year high of $96.75.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.21 per share. This is an increase from DXC Technology’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, June 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.62%. DXC Technology’s dividend payout ratio (DPR) is 10.07%.

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).

Read More: Golden Cross

Get a free copy of the Zacks research report on DXC Technology (DXC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for DXC Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXC Technology and related companies with MarketBeat.com's FREE daily email newsletter.