Morgan Stanley Initiates Coverage on Computer Sciences (CSC)
Stock analysts at Morgan Stanley assumed coverage on shares of Computer Sciences (NYSE:CSC) in a report issued on Monday. The firm set an “underweight” rating and a $60.00 price target on the stock. Morgan Stanley’s price objective indicates a potential downside of 6.03% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Computer Sciences in a research note on Thursday. They now have a $67.00 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Computer Sciences in a research note on Monday, June 16th. They now have a $67.00 price target on the stock, up previously from $58.00. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Computer Sciences has an average rating of “Hold” and a consensus price target of $64.17.
Computer Sciences (NYSE:CSC) traded down 0.64% on Monday, hitting $63.85. The stock had a trading volume of 622,391 shares. Computer Sciences has a 1-year low of $45.79 and a 1-year high of $64.72. The stock has a 50-day moving average of $62.90 and a 200-day moving average of $60.16. The company has a market cap of $9.250 billion and a P/E ratio of 14.38.
Computer Sciences (NYSE:CSC) last released its earnings data on Thursday, May 8th. The company reported $1.04 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.04. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. The company’s quarterly revenue was down 5.0% on a year-over-year basis. Analysts expect that Computer Sciences will post $4.49 EPS for the current fiscal year.
In other Computer Sciences news, CEO John M. Lawrie sold 2,000 shares of the stock on the open market in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $64.08, for a total value of $128,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Computer Sciences Corporation (NYSE:CSC) is engaged in the information technology (IT) and professional services industry.
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