Analysts predict that Science Applications International Corp (NYSE:SAIC) will announce sales of $1.10 billion for the current quarter, Zacks reports. Five analysts have provided estimates for Science Applications International’s earnings, with the highest sales estimate coming in at $1.12 billion and the lowest estimate coming in at $1.08 billion. Science Applications International reported sales of $1.08 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, September 12th.
On average, analysts expect that Science Applications International will report full-year sales of $4.60 billion for the current financial year, with estimates ranging from $4.54 billion to $4.64 billion. For the next year, analysts expect that the company will post sales of $4.74 billion per share, with estimates ranging from $4.63 billion to $4.82 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Science Applications International.
Science Applications International (NYSE:SAIC) last released its quarterly earnings results on Tuesday, June 12th. The information technology services provider reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.09. Science Applications International had a return on equity of 56.35% and a net margin of 3.95%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Science Applications International from a “buy” rating to a “hold” rating in a research report on Thursday, June 14th. Stifel Nicolaus assumed coverage on Science Applications International in a research report on Friday, May 25th. They set a “hold” rating and a $85.00 price target on the stock. Cowen restated a “hold” rating and set a $82.00 price target on shares of Science Applications International in a research report on Thursday, June 14th. ValuEngine downgraded Science Applications International from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. Finally, Drexel Hamilton downgraded Science Applications International from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $85.38.
In other news, CEO Anthony J. Moraco sold 21,737 shares of Science Applications International stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $81.32, for a total value of $1,767,652.84. Following the transaction, the chief executive officer now owns 61,249 shares in the company, valued at $4,980,768.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 22,322 shares of company stock worth $1,814,728. Company insiders own 2.05% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackay Shields LLC purchased a new position in Science Applications International during the 1st quarter valued at about $392,000. Cetera Advisor Networks LLC increased its holdings in Science Applications International by 87.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 6,187 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 2,879 shares during the period. SG Americas Securities LLC increased its holdings in Science Applications International by 16.6% during the 2nd quarter. SG Americas Securities LLC now owns 15,330 shares of the information technology services provider’s stock valued at $1,241,000 after purchasing an additional 2,185 shares during the period. ETF Managers Group LLC increased its holdings in Science Applications International by 6.6% during the 1st quarter. ETF Managers Group LLC now owns 684,627 shares of the information technology services provider’s stock valued at $54,839,000 after purchasing an additional 42,489 shares during the period. Finally, Squar Milner Financial Services LLC purchased a new position in Science Applications International during the 2nd quarter valued at about $112,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.
NYSE SAIC traded down $0.43 during trading hours on Friday, reaching $90.62. 234,000 shares of the stock traded hands, compared to its average volume of 240,545. Science Applications International has a 1 year low of $60.21 and a 1 year high of $93.31. The company has a quick ratio of 1.18, a current ratio of 1.34 and a debt-to-equity ratio of 2.99. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 4.04 and a beta of 1.40.
About Science Applications International
Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. Its offerings include engineering; technology and equipment platform integration; 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.
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