DXC Technology (NYSE:DXC) Releases FY 2023 Earnings Guidance

DXC Technology (NYSE:DXCGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.85-$4.15 for the period, compared to the consensus estimate of $4.25. The company issued revenue guidance of $14.90 billion-$15.05 billion, compared to the consensus revenue estimate of $16.12 billion.DXC Technology also updated its FY 2024 guidance to $5.00-$5.25 EPS.

DXC Technology stock traded up $0.01 during midday trading on Wednesday, reaching $29.45. 3,712,641 shares of the company were exchanged, compared to its average volume of 2,093,842. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -12.12, a P/E/G ratio of 0.26 and a beta of 2.15. The firm’s 50-day simple moving average is $30.75 and its 200-day simple moving average is $31.90. DXC Technology has a 1 year low of $27.28 and a 1 year high of $44.18. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.12 and a current ratio of 1.12.

DXC has been the subject of a number of recent research reports. BMO Capital Markets dropped their price objective on DXC Technology from $40.00 to $35.00 in a research report on Tuesday, January 25th. Zacks Investment Research upgraded DXC Technology from a sell rating to a hold rating and set a $37.00 price objective for the company in a research report on Friday, February 4th. JPMorgan Chase & Co. dropped their price objective on DXC Technology from $41.00 to $39.00 and set an underweight rating for the company in a research report on Tuesday, March 22nd. Bank of America cut DXC Technology from a buy rating to an underperform rating and dropped their price objective for the stock from $45.00 to $30.00 in a research report on Wednesday, March 9th. Finally, Citigroup dropped their price objective on DXC Technology from $45.00 to $43.00 in a research report on Wednesday, April 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $41.75.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toroso Investments LLC acquired a new position in shares of DXC Technology in the 4th quarter valued at about $230,000. Glenmede Trust Co. NA lifted its stake in shares of DXC Technology by 14.4% in the 4th quarter. Glenmede Trust Co. NA now owns 7,201 shares of the company’s stock valued at $231,000 after purchasing an additional 907 shares in the last quarter. Forum Financial Management LP acquired a new position in shares of DXC Technology in the 4th quarter valued at about $240,000. Prudential PLC acquired a new position in shares of DXC Technology in the 1st quarter valued at about $240,000. Finally, HighTower Advisors LLC lifted its stake in shares of DXC Technology by 11.7% in the 1st quarter. HighTower Advisors LLC now owns 8,776 shares of the company’s stock valued at $284,000 after purchasing an additional 921 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

About DXC Technology (Get Rating)

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering and solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

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