Perspecta (NASDAQ:PRSP) Issues FY 2020 Earnings Guidance

Perspecta (NASDAQ:PRSP) issued an update on its FY 2020 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.05-2.16 for the period, compared to the Thomson Reuters consensus estimate of $2.00. The company issued revenue guidance of $4.35-4.45 billion, compared to the consensus revenue estimate of $4.37 billion.Perspecta also updated its FY19 guidance to $2.05-2.16 EPS.

Shares of PRSP traded up $0.35 during midday trading on Friday, reaching $23.41. The stock had a trading volume of 2,873,170 shares, compared to its average volume of 835,298. Perspecta has a 52 week low of $15.74 and a 52 week high of $26.64. The firm has a 50 day moving average of $22.68.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Wednesday, June 5th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Perspecta’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, June 4th.

A number of research analysts have recently weighed in on the company. Loop Capital lifted their price target on Perspecta to $22.00 and gave the company a hold rating in a report on Friday, June 7th. Zacks Investment Research raised Perspecta from a hold rating to a buy rating and set a $26.00 price objective for the company in a research report on Friday. 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 objective for the company. Morgan Stanley set a $21.00 price objective on Perspecta and gave the company a sell rating in a research report on Monday, June 17th. Finally, Cowen cut Perspecta from an outperform rating to a market perform rating and reduced their price objective for the company from $28.00 to $26.00 in a research report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Perspecta has an average rating of Hold and an average target price of $25.17.

In other news, Director Philip O. Nolan purchased 4,595 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were purchased at an average cost of $21.83 per share, for a total transaction of $100,308.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip O. Nolan purchased 4,399 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $22.93 per share, for a total transaction of $100,869.07. The disclosure for this purchase can be found here. Insiders have purchased a total of 13,699 shares of company stock valued at $302,288 in the last three months.

Perspecta Company Profile

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