Perspecta (NASDAQ:PRSP) Issues Earnings Results, Beats Estimates By $0.02 EPS

Perspecta (NASDAQ:PRSP) posted its quarterly earnings data on Wednesday. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02, Briefing.com reports. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted $0.54 EPS. The company’s revenue for the quarter was up 47.5% on a year-over-year basis. Perspecta updated its FY 2020 guidance to $2.08-2.18 EPS and its FY20 guidance to $2.08-$2.18 EPS.

PRSP stock traded up $2.16 during midday trading on Thursday, reaching $23.65. The company had a trading volume of 83,485 shares, compared to its average volume of 785,383. Perspecta has a 1 year low of $15.74 and a 1 year high of $26.64. The company’s 50 day moving average price is $23.29.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Wednesday, June 5th were given a $0.06 dividend. This is an increase from Perspecta’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a yield of 1.01%.



In related news, Director Philip O. Nolan bought 4,257 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $23.37 per share, for a total transaction of $99,486.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Philip O. Nolan bought 4,366 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was bought at an average price of $22.98 per share, with a total value of $100,330.68. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 13,328 shares of company stock valued at $300,927.

A number of equities research analysts have issued reports on PRSP shares. Cowen downgraded shares of Perspecta from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $28.00 to $26.00 in a research report on Monday, June 10th. Zacks Investment Research upgraded shares of Perspecta from a “sell” rating to a “hold” rating in a research report on Tuesday. Loop Capital increased their target price on shares of Perspecta to $22.00 and gave the stock a “hold” rating in a research report on Friday, June 7th. Morgan Stanley set a $21.00 target price on shares of Perspecta and gave the stock a “sell” rating in a research report on Monday, June 17th. Finally, Goldman Sachs Group started coverage on shares of Perspecta in a research report on Thursday, May 9th. They issued a “sell” rating and a $21.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $25.17.

About Perspecta

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Earnings History for Perspecta (NASDAQ:PRSP)

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