Brokerages expect Perspecta Inc (NASDAQ:PRSP) to report $1.07 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Perspecta’s earnings. Perspecta posted sales of $793.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 34.9%. The business is expected to announce its next earnings results after the market closes on Wednesday, August 14th.
According to Zacks, analysts expect that Perspecta will report full year sales of $4.40 billion for the current fiscal year, with estimates ranging from $4.36 billion to $4.43 billion. For the next year, analysts forecast that the firm will report sales of $4.48 billion, with estimates ranging from $4.26 billion to $4.60 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Perspecta.
Perspecta (NASDAQ:PRSP) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.06. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. The company’s revenue was up 53.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share.
Several research firms have issued reports on PRSP. Cowen reissued a “buy” rating on shares of Aptinyx in a research note on Monday, June 10th. Zacks Investment Research reissued a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. Morgan Stanley began coverage on in a research note on Monday, June 17th. They set an “equal weight” rating and a GBX 215 ($2.81) target price for the company. Loop Capital raised their price target on Perspecta to $22.00 and gave the stock a “hold” rating in a research report on Friday, June 7th. Finally, Goldman Sachs Group upgraded MICHELIN COMPAG/ADR from a “neutral” rating to a “buy” rating in a research report on Thursday, May 9th. Two equities research 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’s stock. Perspecta presently has an average rating of “Hold” and an average price target of $25.17.
In related news, Director Philip O. Nolan bought 4,366 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was purchased at an average cost of $22.98 per share, for a total transaction of $100,330.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip O. Nolan bought 4,705 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average price of $21.49 per share, with a total value of $101,110.45. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 13,470 shares of company stock valued at $302,310.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC increased its position in Perspecta by 168.3% in the 1st quarter. Quantamental Technologies LLC now owns 1,610 shares of the company’s stock valued at $33,000 after acquiring an additional 1,010 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new stake in shares of Perspecta during the 4th quarter worth approximately $62,000. State of Alaska Department of Revenue purchased a new stake in shares of Perspecta during the 1st quarter worth approximately $95,000. Meeder Asset Management Inc. boosted its stake in shares of Perspecta by 338.0% during the 1st quarter. Meeder Asset Management Inc. now owns 5,689 shares of the company’s stock worth $115,000 after acquiring an additional 4,390 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Perspecta during the 2nd quarter worth approximately $205,000.
Shares of NASDAQ:PRSP traded up $0.20 during midday trading on Tuesday, hitting $23.96. The company had a trading volume of 14,488 shares, compared to its average volume of 805,137. Perspecta has a twelve month low of $15.74 and a twelve month high of $26.64. The firm’s 50-day moving average is $23.47.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.06 per share. This is a positive change from Perspecta’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Tuesday, June 4th.
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