DXC Technology (NYSE:DXC) Issues FY23 Earnings Guidance

DXC Technology (NYSE:DXCGet Rating) updated its FY23 earnings guidance on Wednesday. The company provided EPS guidance of $3.85-4.15 for the period, compared to the consensus EPS estimate of $4.21. The company issued revenue guidance of $14.90-15.05 billion, compared to the consensus revenue estimate of $16.07 billion.DXC Technology also updated its FY 2023 guidance to $3.85-$4.15 EPS.

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

DXC traded up $0.01 during trading on Wednesday, reaching $29.45. 3,712,641 shares of the stock traded hands, compared to its average volume of 2,093,842. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of -12.12, a price-to-earnings-growth ratio of 0.26 and a beta of 2.15. DXC Technology has a fifty-two week low of $27.28 and a fifty-two week high of $44.18. The stock’s 50-day simple moving average is $30.75 and its two-hundred day simple moving average is $31.90.

DXC Technology (NYSE:DXCGet Rating) last announced its quarterly earnings results on Wednesday, May 25th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.15). The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.12 billion. DXC Technology had a negative net margin of 3.67% and a positive return on equity of 16.81%. DXC Technology’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. Research analysts anticipate that DXC Technology will post 3.66 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Privium Fund Management UK Ltd acquired a new position in DXC Technology during the 4th quarter worth approximately $1,166,000. Marshall Wace LLP bought a new position in shares of DXC Technology during the 4th quarter worth approximately $1,924,000. Stifel Financial Corp increased its position in shares of DXC Technology by 1.9% during the 4th quarter. Stifel Financial Corp now owns 32,352 shares of the company’s stock valued at $1,042,000 after purchasing an additional 595 shares during the last quarter. Sei Investments Co. grew its holdings in DXC Technology by 4.1% during the fourth quarter. Sei Investments Co. now owns 36,259 shares of the company’s stock valued at $1,024,000 after purchasing an additional 1,431 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its holdings in DXC Technology by 17.0% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 28,804 shares of the company’s stock worth $927,000 after buying an additional 4,188 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

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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