Computer Sciences (CSC) Posts Quarterly Earnings, Beats Estimates By $0.09 EPS
Computer Sciences (NYSE:CSC) posted its quarterly earnings results on Thursday. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.94 by $0.09, Analyst Ratings Network.com reports. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis.
Shares of Computer Sciences (NYSE:CSC) traded down 1.24% during mid-day trading on Thursday, hitting $61.33. 1,163,177 shares of the company’s stock traded hands. Computer Sciences has a 1-year low of $46.80 and a 1-year high of $65.52. The stock has a 50-day moving average of $63.51 and a 200-day moving average of $61.53. The company has a market cap of $8.885 billion and a P/E ratio of 13.90.
A number of analysts have recently weighed in on CSC shares. Analysts at Morgan Stanley initiated coverage on shares of Computer Sciences in a research note on Monday, July 7th. They set an “underweight” rating and a $60.00 price target on the stock. On a related note, 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. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Computer Sciences in a research note on Monday, May 12th. They now have a $62.00 price target on the stock, up previously from $59.00. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $63.91.
In other Computer Sciences news, CEO John M. Lawrie sold 2,000 shares of Computer Sciences stock on the open market in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $62.40, for a total value of $124,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Computer Sciences Corporation (NYSE:CSC) is engaged in the information technology (IT) and professional services industry.
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