Science Applications International (NYSE:SAIC) Updates FY 2023 Earnings Guidance

Science Applications International (NYSE:SAICGet Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $6.800-$7.100 for the period, compared to the Thomson Reuters consensus estimate of $6.840. The company issued revenue guidance of $7.35 billion-$7.55 billion, compared to the consensus revenue estimate of $7.61 billion.

Shares of NYSE SAIC traded down $0.89 during midday trading on Thursday, hitting $84.67. The stock had a trading volume of 212,643 shares, compared to its average volume of 423,478. The business’s 50 day moving average is $88.52 and its 200-day moving average is $86.88. The company has a market cap of $4.75 billion, a P/E ratio of 17.79 and a beta of 0.78. Science Applications International has a 52 week low of $78.10 and a 52 week high of $96.50. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.45.

Science Applications International (NYSE:SAICGet Rating) last issued its earnings results on Monday, March 28th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.32. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.77 billion. Science Applications International had a net margin of 3.75% and a return on equity of 25.99%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 earnings per share. As a group, analysts expect that Science Applications International will post 7.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Thursday, April 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, April 13th. Science Applications International’s dividend payout ratio is presently 31.03%.

A number of research analysts recently weighed in on SAIC shares. Zacks Investment Research cut shares of Science Applications International from a hold rating to a sell rating and set a $86.00 target price on the stock. in a research note on Wednesday, February 2nd. Barclays upgraded shares of Science Applications International from an equal weight rating to an overweight rating and lowered their target price for the company from $105.00 to $90.00 in a research note on Monday, January 24th. Truist Financial cut shares of Science Applications International from a buy rating to a hold rating and set a $105.00 target price on the stock. in a research note on Friday, April 1st. Wells Fargo & Company lifted their target price on shares of Science Applications International from $90.00 to $96.00 and gave the company an equal weight rating in a research note on Thursday, March 24th. Finally, Morgan Stanley reduced their price target on shares of Science Applications International from $101.00 to $99.00 and set an overweight rating on the stock in a report on Tuesday, March 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Science Applications International currently has a consensus rating of Hold and a consensus target price of $92.86.

In related news, EVP Steven G. Mahon sold 4,132 shares of Science Applications International stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $91.03, for a total transaction of $376,135.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy J. Mayopoulos sold 3,500 shares of Science Applications International stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $92.94, for a total transaction of $325,290.00. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Science Applications International in the 4th quarter worth approximately $443,000. Deutsche Bank AG lifted its position in shares of Science Applications International by 30.4% in the 4th quarter. Deutsche Bank AG now owns 6,730 shares of the information technology services provider’s stock worth $562,000 after purchasing an additional 1,570 shares during the period. Metropolitan Life Insurance Co NY lifted its position in shares of Science Applications International by 9.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 10,306 shares of the information technology services provider’s stock worth $861,000 after purchasing an additional 877 shares during the period. Vident Investment Advisory LLC lifted its position in shares of Science Applications International by 4.0% in the 4th quarter. Vident Investment Advisory LLC now owns 18,142 shares of the information technology services provider’s stock worth $1,516,000 after purchasing an additional 704 shares during the period. Finally, State of Tennessee Treasury Department purchased a new stake in shares of Science Applications International in the 4th quarter worth approximately $1,738,000. 75.91% of the stock is owned by institutional investors.

Science Applications International Company Profile (Get Rating)

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include engineering; technology integration; IT modernization; 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, as well as cloud migration, managed services, infrastructure modernization, and enterprise IT-as-a-service solutions.

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Earnings History and Estimates for Science Applications International (NYSE:SAIC)

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