DXC Technology (NYSE:DXC) Updates FY 2024 Earnings Guidance

DXC Technology (NYSE:DXC – Get Rating) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.00-$5.25 for the period. The company issued revenue guidance of -.DXC Technology also updated its FY 2023 guidance to $3.85-$4.15 EPS.

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

Shares of NYSE:DXC 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 current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.83. The business’s fifty day moving average is $30.69 and its two-hundred day moving average is $31.88. DXC Technology has a one year low of $27.28 and a one year high of $44.18. The stock has a market cap of $7.20 billion, a PE ratio of -12.12, a price-to-earnings-growth ratio of 0.26 and a beta of 2.15.

DXC Technology (NYSE:DXC – Get Rating) last released its quarterly earnings data on Wednesday, May 25th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.15). DXC Technology had a negative net margin of 3.67% and a positive return on equity of 16.81%. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the business earned $0.74 EPS. DXC Technology’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that DXC Technology will post 3.66 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Toroso Investments LLC purchased a new stake in shares of DXC Technology in the fourth quarter valued at $230,000. Glenmede Trust Co. NA raised its stake in shares of DXC Technology by 14.4% in the fourth quarter. Glenmede Trust Co. NA now owns 7,201 shares of the company’s stock valued at $231,000 after acquiring an additional 907 shares during the period. Forum Financial Management LP purchased a new stake in shares of DXC Technology in the fourth quarter valued at $240,000. Prudential PLC purchased a new stake in shares of DXC Technology in the first quarter valued at $240,000. Finally, HighTower Advisors LLC raised its stake in shares of DXC Technology by 11.7% in the first quarter. HighTower Advisors LLC now owns 8,776 shares of the company’s stock valued at $284,000 after acquiring an additional 921 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

DXC Technology Company Profile (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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