Science Applications International Co. (NYSE:SAIC) Declares Quarterly Dividend of $0.37

Science Applications International Co. (NYSE:SAIC) announced a quarterly dividend on Friday, September 3rd, Wall Street Journal reports. Investors of record on Friday, October 15th will be paid a dividend of 0.37 per share by the information technology services provider on Friday, October 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, October 14th.

Science Applications International has increased its dividend payment by 19.4% over the last three years. Science Applications International has a dividend payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Science Applications International to earn $7.12 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 20.8%.

SAIC stock opened at $88.17 on Wednesday. The stock’s 50 day simple moving average is $84.80 and its 200 day simple moving average is $87.24. Science Applications International has a fifty-two week low of $72.44 and a fifty-two week high of $103.95. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.87 and a current ratio of 0.97. The company has a market cap of $5.08 billion, a P/E ratio of 18.24 and a beta of 0.90.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings results on Wednesday, September 1st. The information technology services provider reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.50. Science Applications International had a return on equity of 26.92% and a net margin of 3.93%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts predict that Science Applications International will post 6.69 earnings per share for the current year.

Separately, Cowen reaffirmed a “buy” rating on shares of Science Applications International in a research note on Thursday, September 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Science Applications International has an average rating of “Hold” and an average target price of $97.44.

A hedge fund recently raised its stake in Science Applications International stock. Morgan Stanley raised its stake in Science Applications International Co. (NYSE:SAIC) by 12.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 836,110 shares of the information technology services provider’s stock after purchasing an additional 91,475 shares during the quarter. Morgan Stanley owned 1.44% of Science Applications International worth $73,352,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 75.72% of the company’s stock.

About Science Applications International

Science Applications International Corp. is a provider of technical, engineering and enterprise information technology (IT) services primarily to the U.S. government. Its offerings include: engineering; technology integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services spanning the design, development, integration, deployment, management and operations, sustainment and security of its customers’ entire IT infrastructure.

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Dividend History for Science Applications International (NYSE:SAIC)

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