Science Applications International Corp (NYSE:SAIC) – Jefferies Financial Group upped their Q2 2020 earnings per share (EPS) estimates for shares of Science Applications International in a report issued on Sunday, March 31st, Zacks Investment Research reports. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the information technology services provider will post earnings of $1.00 per share for the quarter, up from their prior estimate of $0.98. Jefferies Financial Group also issued estimates for Science Applications International’s Q3 2020 earnings at $1.20 EPS, Q4 2020 earnings at $1.21 EPS, FY2020 earnings at $4.50 EPS and FY2022 earnings at $6.20 EPS.
Several other equities research analysts also recently commented on SAIC. Zacks Investment Research raised Science Applications International from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Wednesday, January 2nd. Wells Fargo & Co restated a “hold” rating on shares of Science Applications International in a research report on Friday, January 11th. Drexel Hamilton restated a “buy” rating and set a $90.00 price objective on shares of Science Applications International in a research report on Thursday, January 24th. ValuEngine raised Science Applications International from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Finally, Citigroup assumed coverage on Science Applications International in a report on Tuesday, February 19th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $88.57.
Science Applications International (NYSE:SAIC) last issued its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.28. Science Applications International had a net margin of 2.94% and a return on equity of 32.34%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business earned $1.16 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis.
Several hedge funds have recently modified their holdings of the company. Creative Planning grew its stake in Science Applications International by 1.0% in the 1st quarter. Creative Planning now owns 15,329 shares of the information technology services provider’s stock valued at $1,180,000 after acquiring an additional 152 shares during the period. CWM LLC increased its position in Science Applications International by 18.2% in the 1st quarter. CWM LLC now owns 3,922 shares of the information technology services provider’s stock valued at $302,000 after acquiring an additional 603 shares during the period. Foundry Partners LLC increased its position in Science Applications International by 7.1% in the 1st quarter. Foundry Partners LLC now owns 163,465 shares of the information technology services provider’s stock valued at $12,579,000 after acquiring an additional 10,899 shares during the period. Strs Ohio increased its position in Science Applications International by 41.5% in the 1st quarter. Strs Ohio now owns 5,800 shares of the information technology services provider’s stock valued at $446,000 after acquiring an additional 1,700 shares during the period. Finally, Brookstone Capital Management acquired a new position in Science Applications International in the 1st quarter valued at about $581,000. 69.53% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Anthony J. Moraco sold 1,803 shares of Science Applications International stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $75.00, for a total transaction of $135,225.00. Following the sale, the chief executive officer now owns 59,151 shares in the company, valued at $4,436,325. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.05% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.48 annualized dividend and a dividend yield of 2.01%. This is a boost from Science Applications International’s previous quarterly dividend of $0.31. Science Applications International’s dividend payout ratio (DPR) is presently 29.37%.
About Science Applications International
Science Applications International Corp. engages in the provision of full life cycle services and solutions in the technical, engineering, intelligence, and enterprise information technology markets. It offers technology and equipment platform integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services such as the design, development, integration, deployment, management and operations, and sustainment and security of its customer’s information technology infrastructure.
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