Cantor Fitzgerald Weighs in on DXC Technology’s FY2019 Earnings (DXC)
DXC Technology (NYSE:DXC) – Cantor Fitzgerald issued their FY2019 EPS estimates for shares of DXC Technology in a research note issued on Monday. Cantor Fitzgerald analyst J. Foresi expects that the company will earn $8.75 per share for the year. Cantor Fitzgerald has a “Hold” rating and a $93.00 price objective on the stock.
A number of other equities analysts have also recently issued reports on DXC. KeyCorp reaffirmed a “buy” rating and issued a $92.00 target price on shares of DXC Technology in a report on Friday, September 8th. Bank of America started coverage on DXC Technology in a research note on Tuesday, September 12th. They issued a “buy” rating and a $101.00 price target for the company. BMO Capital Markets increased their price target on DXC Technology from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, September 15th. Zacks Investment Research raised DXC Technology from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Tuesday, October 10th. Finally, Barclays raised their target price on DXC Technology from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $100.53.
Shares of DXC Technology (NYSE:DXC) traded up $1.45 on Wednesday, reaching $100.63. The company’s stock had a trading volume of 1,244,448 shares, compared to its average volume of 1,466,225. DXC Technology has a fifty-two week low of $67.76 and a fifty-two week high of $100.72. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The firm has a market cap of $28,290.00 and a PE ratio of 168.10.
DXC Technology (NYSE:DXC) last issued its earnings results on Tuesday, November 7th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.40. DXC Technology had a return on equity of 17.83% and a net margin of 1.88%. The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.07 billion. The business’s revenue was up 229.4% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 6th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $0.72 annualized dividend and a yield of 0.72%.
In other news, EVP Michael G. Nefkens sold 35,340 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $92.00, for a total value of $3,251,280.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Washington Trust Bank increased its position in shares of DXC Technology by 10,252.8% during the fourth quarter. Washington Trust Bank now owns 62,738 shares of the company’s stock valued at $5,954,000 after acquiring an additional 62,132 shares during the last quarter. Knightsbridge Asset Management LLC increased its position in shares of DXC Technology by 2.1% during the third quarter. Knightsbridge Asset Management LLC now owns 90,767 shares of the company’s stock valued at $7,795,000 after acquiring an additional 1,887 shares during the last quarter. Jana Partners LLC increased its position in shares of DXC Technology by 45.1% during the third quarter. Jana Partners LLC now owns 2,085,092 shares of the company’s stock valued at $179,068,000 after acquiring an additional 647,853 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of DXC Technology by 57.3% during the third quarter. GSA Capital Partners LLP now owns 11,405 shares of the company’s stock valued at $979,000 after acquiring an additional 4,154 shares during the last quarter. Finally, Davis Selected Advisers increased its position in shares of DXC Technology by 83.8% during the third quarter. Davis Selected Advisers now owns 11,319 shares of the company’s stock valued at $972,000 after acquiring an additional 5,160 shares during the last quarter. Institutional investors own 84.66% of the company’s stock.
About DXC Technology
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.
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