Analysts Expect Perspecta Inc (NASDAQ:PRSP) to Announce $0.52 EPS

Equities analysts forecast that Perspecta Inc (NASDAQ:PRSP) will announce earnings of $0.52 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Perspecta’s earnings. The highest EPS estimate is $0.55 and the lowest is $0.48. Perspecta posted earnings of $0.45 per share in the same quarter last year, which would indicate a positive year over year growth rate of 15.6%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Perspecta will report full year earnings of $2.10 per share for the current year, with EPS estimates ranging from $2.05 to $2.15. For the next year, analysts expect that the business will report earnings of $2.22 per share, with EPS estimates ranging from $2.13 to $2.33. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Perspecta.

Perspecta (NASDAQ:PRSP) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 47.5% on a year-over-year basis.

A number of brokerages have recently weighed in on PRSP. Zacks Investment Research raised shares of Perspecta from a “sell” rating to a “hold” rating in a research note on Tuesday. Loop Capital raised their price objective on shares of Perspecta to $22.00 and gave the stock a “hold” rating in a research note on Friday, June 7th. Cowen cut shares of Perspecta from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $28.00 to $26.00 in a research note on Monday, June 10th. Goldman Sachs Group started 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. Finally, Morgan Stanley set a $21.00 target price on shares of Perspecta and gave the stock a “sell” rating in a research note on Monday, June 17th. 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. The company presently has an average rating of “Hold” and a consensus target price of $25.17.

Shares of PRSP traded up $0.57 during mid-day trading on Monday, reaching $24.32. 1,210,100 shares of the company’s stock were exchanged, compared to its average volume of 796,987. The company has a 50-day simple moving average of $23.31 and a two-hundred day simple moving average of $22.14. Perspecta has a 52-week low of $15.74 and a 52-week high of $26.64.

In other news, Director Philip O. Nolan bought 4,257 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $23.37 per share, with a total value of $99,486.09. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Philip O. Nolan bought 4,705 shares of the stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of $21.49 per share, with a total value of $101,110.45. The disclosure for this purchase can be found here. Insiders acquired a total of 13,328 shares of company stock valued at $300,927 over the last ninety days.

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Perspecta during the 4th quarter worth about $35,504,000. Atria Investments LLC acquired a new stake in shares of Perspecta during the 2nd quarter worth about $23,342,000. Nuveen Asset Management LLC increased its position in shares of Perspecta by 825.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,952,093 shares of the company’s stock worth $45,699,000 after purchasing an additional 1,741,081 shares in the last quarter. Invesco Ltd. increased its position in shares of Perspecta by 288.0% during the 2nd quarter. Invesco Ltd. now owns 2,315,121 shares of the company’s stock worth $54,196,000 after purchasing an additional 1,718,501 shares in the last quarter. Finally, Crescent Park Management L.P. acquired a new stake in shares of Perspecta during the 2nd quarter worth about $33,441,000.

About Perspecta

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