Computer Sciences Corporation (CSC) Releases Earnings Results, Beats Expectations By $0.05 EPS

Computer Sciences Corporation (CSC) reported quarterly earnings results on Tuesday, May-24-2016. The company said it had a profit of $0.73 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.68. The company posted revenue of $1807.00 million in the period, compared to analysts expectations of $1797.30 million. The company’s revenue was down -5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.

Many Wall Street Analysts have commented on Computer Sciences Corporation. Computer Sciences Corporation was Downgraded by Wells Fargo to ” Market Perform” on Apr 13, 2016. Computer Sciences Corporation was Resumed by Goldman to “Neutral” on Mar 9, 2016. Computer Sciences Corporation was Downgraded by Citigroup to ” Neutral” on Feb 26, 2016.

Computer Sciences Corporation opened for trading at $34.47 and hit $35.06 on the upside on Friday, eventually ending the session at $35.01, with a gain of 1.66% or 0.57 points. The heightened volatility saw the trading volume jump to 13,95,508 shares. Company has a market cap of $4,834 M.

Investors should note that on May 17, 2016, Computer Sciences Corporation announced a cash dividend of $0.1400. The company’s management has announced Jun 10, 2016 as the ex-dividend date and fixed the record date on Jun 14, 2016. The payable date has been fixed on Jul 11, 2016.

In a different news, on May 4, 2016, John M Lawrie (Chairman, President and CEO) sold 8,010 shares at $33.33 per share price. According to the SEC, on Nov 6, 2015, Paul N Saleh (Exec Vice President and CFO) sold 198,109 shares at $68.00 per share price. On Jun 16, 2015, William L Jr Deckelman (Exec VP and General Counsel) sold 16,707 shares at $67.89 per share price, according to the Form-4 filing with the securities and exchange commission.

Computer Sciences Corporation (CSC) is a global provider of information technology (IT) and professional services and solutions. The Company operates through three segments: Global Business Services (GBS) which is a provider of various technology solutions including consulting applications services and software; Global Infrastructure Services (GIS) which provides solutions such as managed and virtual desktop solutions and data center management and North American Public Sector (NPS) which delivers IT mission and operations-related services. Its subsidiary ServiceMesh Inc. (ServiceMesh) is a provider of enterprise cloud management software. ServiceMesh also provides various other services such as tiered services levels different levels of security self-service options governance policy and real time monitoring. CSC’s subsidiary Fruition Partners provides technology-enabled solutions for the service-management sector and provides support for ServiceNow-related software

Computer Sciences Corporation

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