Perspecta Inc (NASDAQ:PRSP) Expected to Announce Earnings of $0.48 Per Share

Analysts predict that Perspecta Inc (NASDAQ:PRSP) will announce earnings of $0.48 per share for the current quarter, according to Zacks. Two analysts have made estimates for Perspecta’s earnings, with estimates ranging from $0.44 to $0.52. Perspecta reported earnings of $0.54 per share during the same quarter last year, which would indicate a negative year over year growth rate of 11.1%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Perspecta will report full-year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.86 to $2.15. For the next financial year, analysts expect that the business will post earnings of $2.12 per share, with EPS estimates ranging from $1.85 to $2.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Perspecta.

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

PRSP has been the subject of several analyst reports. Cowen reissued a “buy” rating and issued a $28.00 target price on shares of Perspecta in a research note on Wednesday, February 13th. Goldman Sachs Group initiated coverage on shares of Perspecta in a research note on Thursday, May 9th. They issued a “sell” rating and a $21.00 target price for the company. Morgan Stanley initiated coverage on shares of Perspecta in a research note on Monday, June 3rd. They issued an “underweight” rating and a $20.00 target price for the company. Loop Capital boosted their target price on shares of Perspecta to $22.00 and gave the company a “hold” rating in a research note on Friday, June 7th. Finally, Zacks Investment Research raised shares of Perspecta from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Perspecta currently has an average rating of “Hold” and a consensus target price of $24.86.

In other Perspecta news, Director Philip O. Nolan purchased 4,595 shares of the stock in a transaction on Thursday, April 4th. The stock was bought at an average price of $21.83 per share, for a total transaction of $100,308.85. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John M. Curtis purchased 9,578 shares of the stock in a transaction on Monday, March 25th. The stock was acquired at an average price of $20.76 per share, with a total value of $198,839.28. The disclosure for this purchase can be found here. Insiders acquired a total of 25,675 shares of company stock valued at $551,677 in the last 90 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Perspecta by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 833,597 shares of the company’s stock worth $21,440,000 after purchasing an additional 56,837 shares in the last quarter. Teachers Advisors LLC raised its holdings in Perspecta by 21.1% during the third quarter. Teachers Advisors LLC now owns 522,131 shares of the company’s stock worth $13,429,000 after purchasing an additional 90,991 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Perspecta during the fourth quarter worth approximately $384,000. Royal London Asset Management Ltd. acquired a new stake in Perspecta during the fourth quarter worth approximately $184,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in Perspecta by 6.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,000 shares of the company’s stock worth $206,000 after purchasing an additional 680 shares in the last quarter.

PRSP stock traded up $0.19 during trading on Wednesday, hitting $23.20. The stock had a trading volume of 828,800 shares, compared to its average volume of 803,384. Perspecta has a 1-year low of $15.74 and a 1-year high of $26.64.

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

About Perspecta

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