Science Applications International (NYSE:SAIC – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.00-$7.20 for the period, compared to the consensus estimate of $7.04. The company issued revenue guidance of $7.50 billion-$7.55 billion, compared to the consensus revenue estimate of $7.51 billion.
Science Applications International Stock Down 1.2 %
SAIC opened at $92.29 on Thursday. The business has a 50 day moving average price of $93.62 and a 200 day moving average price of $90.26. Science Applications International has a twelve month low of $78.10 and a twelve month high of $97.82. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.95 and a current ratio of 1.07. The firm has a market cap of $5.09 billion, a P/E ratio of 20.19 and a beta of 0.70.
Science Applications International (NYSE:SAIC – Get Rating) last posted its earnings results on Thursday, September 1st. The information technology services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.07. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.82 billion. Science Applications International had a return on equity of 24.18% and a net margin of 3.46%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $1.97 EPS. Research analysts forecast that Science Applications International will post 7.11 EPS for the current year.
Science Applications International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, October 13th. Science Applications International’s dividend payout ratio is presently 32.39%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Barclays boosted their price objective on Science Applications International from $90.00 to $95.00 and gave the stock an equal weight rating in a research note on Tuesday, June 7th. Cowen increased their price target on Science Applications International from $111.00 to $120.00 and gave the stock an outperform rating in a report on Tuesday, June 7th. Finally, Cowen increased their price target on Science Applications International from $111.00 to $120.00 in a report on Tuesday, June 7th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Science Applications International presently has a consensus rating of Hold and an average price target of $102.86.
Insider Activity at Science Applications International
In other Science Applications International news, Director Katharina G. Mcfarland sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $93.30, for a total transaction of $242,580.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $728,952.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.12% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Science Applications International
Hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. purchased a new position in Science Applications International in the first quarter valued at approximately $978,000. Natixis Advisors L.P. lifted its stake in Science Applications International by 14.0% in the first quarter. Natixis Advisors L.P. now owns 11,670 shares of the information technology services provider’s stock valued at $1,076,000 after purchasing an additional 1,432 shares during the last quarter. Bank of Montreal Can lifted its stake in Science Applications International by 19.5% in the first quarter. Bank of Montreal Can now owns 11,432 shares of the information technology services provider’s stock valued at $1,073,000 after purchasing an additional 1,862 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Science Applications International in the first quarter valued at approximately $578,000. Finally, MetLife Investment Management LLC lifted its position in shares of Science Applications International by 32.0% during the first quarter. MetLife Investment Management LLC now owns 36,823 shares of the information technology services provider’s stock worth $3,394,000 after acquiring an additional 8,926 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.
About Science Applications International
Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company’s offerings include engineering; technology integration; IT modernization; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers’ IT infrastructure, as well as cloud migration, managed services, infrastructure modernization, and enterprise IT-as-a-service solutions.
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