Perspecta (NASDAQ:PRSP) Updates FY20 Earnings Guidance

Perspecta (NASDAQ:PRSP) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.08-2.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.09. The company issued revenue guidance of $4.425-4.50 (Prior $4.4-4.5 billion), compared to the consensus revenue estimate of $4.47 billion.

Shares of PRSP stock traded up $0.90 during mid-day trading on Thursday, hitting $28.70. The company’s stock had a trading volume of 17,029 shares, compared to its average volume of 781,880. Perspecta has a 52-week low of $15.74 and a 52-week high of $28.11. The business has a 50-day moving average price of $26.19 and a 200 day moving average price of $24.29.

Perspecta (NASDAQ:PRSP) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year.

A number of research firms recently commented on PRSP. Morgan Stanley upped their price objective on Perspecta from $21.00 to $22.00 and gave the company an underweight rating in a research report on Monday, September 23rd. Zacks Investment Research cut Perspecta from a buy rating to a hold rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has an average rating of Hold and a consensus target price of $23.60.

Perspecta Company Profile

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