SunTrust Banks Weighs in on DXC Technology Co’s Q3 2019 Earnings (DXC)
DXC Technology Co (NYSE:DXC) – SunTrust Banks boosted their Q3 2019 earnings per share estimates for DXC Technology in a research note issued on Monday, November 12th. SunTrust Banks analyst F. Atkins now expects that the company will earn $2.07 per share for the quarter, up from their previous estimate of $2.06. SunTrust Banks also issued estimates for DXC Technology’s Q3 2020 earnings at $2.35 EPS.
DXC Technology (NYSE:DXC) last announced its earnings results on Tuesday, November 6th. The company reported $2.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.06. DXC Technology had a return on equity of 19.07% and a net margin of 8.15%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the business earned $1.93 EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis.
Shares of DXC stock opened at $62.27 on Thursday. DXC Technology has a 1-year low of $60.05 and a 1-year high of $107.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a market cap of $17.37 billion, a P/E ratio of 7.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.32.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, December 5th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.76 annualized dividend and a yield of 1.22%. DXC Technology’s payout ratio is presently 9.57%.
In other news, EVP William L. Deckelman, Jr. sold 2,394 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $90.02, for a total value of $215,507.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Lawrie sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $94.15, for a total value of $235,375.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,158 shares of company stock worth $16,526,731. Company insiders own 0.65% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of DXC Technology by 23.0% in the 3rd quarter. AQR Capital Management LLC now owns 4,079,314 shares of the company’s stock valued at $381,498,000 after buying an additional 763,407 shares during the period. Cypress Capital Group raised its holdings in DXC Technology by 18.6% in the 3rd quarter. Cypress Capital Group now owns 31,001 shares of the company’s stock worth $2,899,000 after purchasing an additional 4,859 shares during the period. One Wealth Advisors LLC raised its holdings in DXC Technology by 5,035.7% in the 3rd quarter. One Wealth Advisors LLC now owns 4,314 shares of the company’s stock worth $404,000 after purchasing an additional 4,230 shares during the period. Putnam Investments LLC raised its holdings in DXC Technology by 3.4% in the 3rd quarter. Putnam Investments LLC now owns 3,897,707 shares of the company’s stock worth $364,514,000 after purchasing an additional 128,955 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in DXC Technology in the 3rd quarter worth about $521,000. 85.74% of the stock is owned by institutional investors and hedge funds.
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).
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