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

Science Applications International Co. (NYSE:SAIC) announced a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Investors of record on Friday, January 10th will be paid a dividend of 0.37 per share by the information technology services provider on Friday, January 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, January 10th.

Science Applications International has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Science Applications International to earn $9.01 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 16.4%.

Science Applications International Trading Down 2.5 %

Shares of NYSE:SAIC traded down $3.13 during midday trading on Thursday, reaching $120.78. 1,046,932 shares of the company’s stock were exchanged, compared to its average volume of 318,723. The firm’s 50 day simple moving average is $138.80 and its two-hundred day simple moving average is $129.68. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 22.01 and a beta of 0.64. Science Applications International has a fifty-two week low of $112.00 and a fifty-two week high of $156.34.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, sell-side analysts forecast that Science Applications International will post 8.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SAIC shares. StockNews.com lowered Science Applications International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. UBS Group began coverage on Science Applications International in a research report on Monday. They set a “neutral” rating and a $134.00 target price on the stock. JPMorgan Chase & Co. upgraded Science Applications International from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $150.00 to $170.00 in a research report on Wednesday, October 2nd. Barclays lifted their target price on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised Science Applications International from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $157.00 to $147.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $147.13.

About Science Applications International

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include IT modernization; digital engineering; artificial intelligence; Weapon systems support design, build, modify, integrate, and sustain weapon systems; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers' IT infrastructure, as well as training and simulation and ground vehicles support which integrates, modify, upgrades, and sustains ground vehicles for nation's armed forces.