Wednesday, June 20, 2018 9:01:46 PM
On Jun 20, Science Applications International Corp. SAIC was upgraded to Zacks Rank #1 (Strong Buy). The upgrade reflects the company’s high-value contract wins and positive earnings estimate revisions.
Notably, the Zacks Consensus Estimate for fiscal 2019 earnings increased approximately 4% to $4.46 per share over the last 30 days. Similarly, for fiscal 2020, the consensus estimate increased 7.1% to $4.81 per share over the same time frame.
Moreover, Science Applications surpassed the Zacks Consensus Estimate thrice in the trailing four quarters. It has an average positive earnings surprise of 16.5%.
Key Catalyst
Science Applications is performing well on the back of new contracts from NASA, the Environmental Protection Agency (EPA) and an increased number of orders in the company’s supply chain. This is supported by the fact that the company has a TTM book-to-bill ratio of 1.4. Its revenues increased 6.5% from the year-ago quarter to $1.175 billion in first-quarter fiscal 2019.
Going ahead, higher spending as proposed in the latest federal government budget is anticipated to accelerate the pace of contract awards, which, in turn, will aid Science Applications’ top-line growth.
We are also positive about the company’s ongoing investments in differentiating solutions and platform integrations, which are expected to reap long-term benefits, though these are proving to be a drag on margins currently.
In addition, its cost-reduction program is expected to benefit the company significantly. The company’s 2018 restructuring plan, which included voluntary and involuntary terminations and consolidation of existing leased facilities, is anticipated to generate cost savings of approximately $20 million annually.
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION Price and EPS Surprise
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION Price and EPS Surprise | SCIENCE APPLICATIONS INTERNATIONAL CORPORATION Quote
Other Stocks to Consider
Some other top-ranked stocks in the broader technology sector are Sabre Corporation SABR, Mercury Systems Inc MRCY and Vishay Intertechnology, Inc. VSH, all sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Sabre, Mercury Systems and Vishay Intertechnology is estimated to be 7.2%, 10.4% and 6.1%, respectively.
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https://finance.yahoo.com/news/saic-looks-promising-deal-wins-135701921.html
GO SAIC
"PEACE"
Recent SAIC News
- SAIC Awarded New $229 Million Contract for DoD IT Modernization • GlobeNewswire Inc. • 09/18/2024 01:26:37 PM
- SAIC Announces Second Quarter of Fiscal Year 2025 Results • GlobeNewswire Inc. • 09/05/2024 11:01:47 AM
- U.S. Index Futures Steady Amid Labor Data Anticipation; Oil Prices Rise • IH Market News • 09/05/2024 10:13:05 AM
- SAIC Board of Directors Declares Cash Dividend • GlobeNewswire Inc. • 08/30/2024 12:25:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/30/2024 12:04:11 PM
- SAIC Schedules Second Quarter Fiscal Year 2025 Earnings Conference Call for September 5 at 10 A.M. ET • GlobeNewswire Inc. • 08/22/2024 12:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 08:02:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/30/2024 08:02:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 08:00:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/11/2024 08:05:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/10/2024 09:44:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/10/2024 08:01:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/06/2024 08:05:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/06/2024 08:04:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/06/2024 08:04:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/06/2024 08:03:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/06/2024 08:03:24 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/03/2024 08:21:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/03/2024 10:55:32 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/31/2024 12:00:31 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/24/2024 08:05:15 PM
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