Perspecta (NASDAQ:PRSP) Posts Earnings Results, Beats Expectations By $0.02 EPS

Perspecta (NASDAQ:PRSP) posted its earnings results on Thursday. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02, Briefing.com reports. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Perspecta updated its FY 2020
After-Hours guidance to 1.90-2.03 EPS and its FY21 guidance to $1.90-2.03 EPS.

Shares of PRSP stock opened at $22.99 on Friday. Perspecta has a 52 week low of $14.03 and a 52 week high of $29.88. The firm has a 50 day moving average of $20.58 and a two-hundred day moving average of $24.18.

PRSP has been the subject of several research reports. Wells Fargo & Co lifted their target price on shares of Perspecta from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday. Cowen reiterated a “hold” rating and issued a $28.00 target price on shares of Perspecta in a report on Thursday. William Blair initiated coverage on shares of Perspecta in a report on Monday, March 30th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded shares of Perspecta from a “sell” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Morgan Stanley lifted their target price on shares of Perspecta from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, April 14th. Seven analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $24.40.

In other Perspecta news, Director Philip O. Nolan purchased 4,856 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was bought at an average price of $20.02 per share, with a total value of $97,217.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Earl Ventling purchased 2,000 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average cost of $19.00 per share, with a total value of $38,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 11,424 shares of company stock valued at $232,378 in the last three months.

About Perspecta

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Further Reading: Recession

Earnings History for Perspecta (NASDAQ:PRSP)

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