Science Applications International (NYSE:SAIC) Releases Quarterly Earnings Results, Beats Expectations by $0.11 EPS

Science Applications International (NYSE:SAIC – Get Rating) released its earnings results on Monday. The information technology services provider reported earnings per share (EPS) of $1.88 for the quarter, beating the consensus estimate of $1.77 by $0.11, MarketWatch Earnings reports. Science Applications International achieved a return on equity of 25.99% and a net margin of 3.75%. The firm had revenue of $2 billion for the quarter, compared to analyst expectations of $1.93 billion. During the same period last year, the company posted earnings per share of $1.94. Business revenue increased 6.3% compared to the same quarter last year. Science Applications International updated its FY2023 guidance to $6.90-$7.20 EPS and its FY23 guidance to $6.90-7.20 EPS.

NYSE:SAIC traded up $6.02 during trading hours on Monday, reaching $94.12. The company’s shares had a trading volume of 10,650 shares, compared to its average volume of 389,749. The company has a market cap of $5.28 billion, a P/E ratio of 19.91, and a beta of 0.79. Science Applications International has a 12-month minimum of $78.10 and a 12-month maximum of $95.98. The firm has a debt-to-equity ratio of 1.45, a quick ratio of 0.89, and a current ratio of 0.93. The stock has a 50-day moving average price of $86.63 and a 200-day moving average price of $85.82.

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The firm also recently revealed a quarterly dividend, to be paid on Friday, July 29. Investors registered on Friday, July 15, will receive a dividend of $0.37. This represents a dividend of $1.48 on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, July 14. Science Applications International Dividend Payout Ratio (DPR) is 31.03%.

Several research analysts recently commented on SAIC’s shares. Wells Fargo & Company raised its price target on Science Applications International from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research report Thursday, March 24. Stifel Nicolaus began coverage of Science Applications International in an investigative report on Thursday, March 17. They issued a “hold” rating for the company. Morgan Stanley lowered its price target on Science Applications International from $101.00 to $99.00 and set an “overweight” rating on the company in a research report Tuesday, March 29. StockNews.com began coverage of Science Applications International in an investigative report on Thursday, March 31. They issued a “buy” rating for the company. Ultimately, Truist Financial downgraded Science Applications International from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in an investigative report on Friday, April 1. Two research analysts rated the stock a sell rating, four assigned a hold rating and four assigned a buy rating to the company. According to MarketBeat data, the company has an average “Hold” rating and an average price target of $92.86.

In other news, director Timothy J. Mayopoulos sold 3,500 shares of the company in a transaction on Tuesday, March 29. 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 SEC, which is available through this hyperlink. Additionally, Executive Vice President Steven G. Mahon sold 4,132 shares of the company in a transaction on Tuesday, March 29. The share was sold at an average price of $91.03, for a total value of $376,135.96. Disclosure of this sale can be found here. Corporate insiders own 1.12% of the company’s shares.

Hedge funds and other institutional investors have recently increased or decreased their holdings in the stock. Bank of Montreal Can increased its position in shares of Science Applications International by 19.5% in the first quarter. Bank of Montreal Can now owns 11,432 shares of the information technology services provider valued at $1,073,000 after purchasing an additional 1,862 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Science Applications International in the first quarter valued at $978,000. Metropolitan Life Insurance Co NY increased its holdings in Science Applications International by 9.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 10,306 shares of the information technology services provider valued at $861,000 after buying an additional 877 shares last quarter. Mirabella Financial Services LLP purchased a new stake in Science Applications International in the first quarter valued at $738,000. Finally, Graham Capital Management LP increased its holding in Science Applications International by 153.3% in the first quarter. Graham Capital Management LP now owns 7,129 shares of the information technology services provider valued at $657,000 after buying an additional 4,314 shares last quarter. Currently, 78.35% of the shares belong to hedge funds and other institutional investors.

International Scientific Applications Company Profile (Get rating)

Science Applications International Corporation provides technical, engineering, and business information technology (IT) services primarily in the United States. The company’s offerings include engineering; technology integration; IT modernization; maintenance of land and sea systems; Logistics; training and simulation; operations and program support services; and comprehensive services, such as design, development, integration, implementation, management and operations, maintenance and security of its clients’ IT infrastructure, as well as cloud migration, managed services, infrastructure modernization and enterprise IT, such as -a- solutions service.

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Science Applications International (NYSE:SAIC) earnings history

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