Perspecta (NASDAQ:PRSP) Issues FY20 Earnings Guidance

Perspecta (NASDAQ:PRSP) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.08-$2.18 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.11. The company issued revenue guidance of $4.4-$4.5 billion, compared to the consensus revenue estimate of $4.40 billion.Perspecta also updated its FY 2020 guidance to $2.08-2.18 EPS.

Shares of NASDAQ:PRSP traded down $0.38 during midday trading on Wednesday, hitting $21.62. The stock had a trading volume of 485,683 shares, compared to its average volume of 785,383. The stock has a 50-day moving average price of $23.29. Perspecta has a fifty-two week low of $15.74 and a fifty-two week high of $26.64.

Perspecta (NASDAQ:PRSP) last issued its earnings results on Thursday, June 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Perspecta’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share.



The company also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Wednesday, June 5th were given a $0.06 dividend. The ex-dividend date was Tuesday, June 4th. This is a boost from Perspecta’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.11%.

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

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

About Perspecta

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