Science Applications International (NYSE:SAIC – Get Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $6.90-$7.20 for the period, compared to the consensus estimate of $6.99. The company issued revenue guidance of $7.43 billion-$7.55 billion, compared to the consensus revenue estimate of $7.47 billion.Science Applications International also updated its FY23 guidance to $6.90-7.20 EPS.
Science Applications International stock traded up $6.65 during trading on Monday, hitting $94.75. The stock had a trading volume of 3,576 shares, compared to its average volume of 389,749. Science Applications International has a 1 year low of $78.10 and a 1 year high of $95.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.45. The stock’s 50 day moving average is $86.63 and its two-hundred day moving average is $85.82. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 18.47 and a beta of 0.79.
Science Applications International (NYSE:SAIC – Get Rating) last issued its earnings results on Monday, March 28th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. Science Applications International had a net margin of 3.75% and a return on equity of 25.99%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm posted $1.67 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Science Applications International will post 7.02 EPS for the current fiscal year.
SAIC has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on Science Applications International in a research note on Thursday, March 17th. They issued a hold rating on the stock. StockNews.com initiated coverage on Science Applications International in a research note on Thursday, March 31st. They issued a buy rating on the stock. Truist Financial cut Science Applications International from a buy rating to a hold rating and set a $105.00 target price on the stock. in a research note on Friday, April 1st. Wells Fargo & Company increased their target price on Science Applications International from $90.00 to $96.00 and gave the company an equal weight rating in a research note on Thursday, March 24th. Finally, Morgan Stanley reduced their target price on Science Applications International from $101.00 to $99.00 and set an overweight rating on the stock in a research note on Tuesday, March 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $92.86.
In related news, Director Timothy J. Mayopoulos sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $92.94, for a total transaction of $325,290.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven G. Mahon sold 4,132 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $91.03, for a total transaction of $376,135.96. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Covestor Ltd boosted its stake in shares of Science Applications International by 90.6% during the 1st quarter. Covestor Ltd now owns 1,590 shares of the information technology services provider’s stock worth $147,000 after acquiring an additional 756 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Science Applications International during the 1st quarter worth $219,000. Pearl River Capital LLC purchased a new position in shares of Science Applications International during the 1st quarter worth $253,000. Neuberger Berman Group LLC boosted its stake in shares of Science Applications International by 11.3% during the 1st quarter. Neuberger Berman Group LLC now owns 3,103 shares of the information technology services provider’s stock worth $286,000 after acquiring an additional 315 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Science Applications International during the 4th quarter worth $443,000. Institutional investors own 78.35% of the company’s stock.
About Science Applications International (Get Rating)
Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include engineering; technology integration; IT modernization; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers' IT infrastructure, as well as cloud migration, managed services, infrastructure modernization, and enterprise IT-as-a-service solutions.
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