Brokerages Anticipate Perspecta Inc (NASDAQ:PRSP) Will Announce Earnings of $0.50 Per Share

Brokerages expect Perspecta Inc (NASDAQ:PRSP) to report earnings of $0.50 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Perspecta’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.52. Perspecta reported earnings per share of $0.54 during the same quarter last year, which indicates a negative year-over-year growth rate of 7.4%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, August 14th.

On average, analysts expect that Perspecta will report full year earnings of $2.10 per share for the current year, with EPS estimates ranging from $2.05 to $2.15. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.21 per share, with EPS estimates ranging from $2.13 to $2.30. Zacks’ EPS averages are an average based on a survey of analysts that cover Perspecta.

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

A number of brokerages have recently commented on PRSP. Loop Capital boosted their price target on Perspecta to $22.00 and gave the company a “hold” rating in a report on Friday, June 7th. Morgan Stanley set a $21.00 price target on Perspecta and gave the stock a “sell” rating in a research report on Monday, June 17th. Zacks Investment Research downgraded Perspecta from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Cowen downgraded Perspecta from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $28.00 to $26.00 in a research report on Monday, June 10th. Finally, Goldman Sachs Group began coverage on Perspecta in a research report on Thursday, May 9th. They set a “sell” rating and a $21.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $25.17.

Shares of Perspecta stock traded down $0.50 during trading on Monday, reaching $21.84. The stock had a trading volume of 177,513 shares, compared to its average volume of 788,942. The business’s fifty day simple moving average is $23.36. Perspecta has a 52 week low of $15.74 and a 52 week high of $26.64.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend 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 yield of 1.10%.

In other news, Director Philip O. Nolan purchased 4,366 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was bought at an average cost of $22.98 per share, for a total transaction of $100,330.68. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Philip O. Nolan purchased 4,257 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $23.37 per share, with a total value of $99,486.09. The disclosure for this purchase can be found here. Insiders have acquired 13,328 shares of company stock valued at $300,927 over the last 90 days.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC increased its holdings in Perspecta by 168.3% in the first quarter. Quantamental Technologies LLC now owns 1,610 shares of the company’s stock valued at $33,000 after purchasing an additional 1,010 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Perspecta in the second quarter valued at $63,000. State of Alaska Department of Revenue acquired a new stake in Perspecta in the first quarter valued at $95,000. Meeder Asset Management Inc. increased its holdings in Perspecta by 338.0% in the first quarter. Meeder Asset Management Inc. now owns 5,689 shares of the company’s stock valued at $115,000 after purchasing an additional 4,390 shares during the period. Finally, Alpha Windward LLC increased its holdings in Perspecta by 39.5% in the second quarter. Alpha Windward LLC now owns 6,165 shares of the company’s stock valued at $147,000 after purchasing an additional 1,747 shares during the period.

About Perspecta

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