Mantech International Corp (MANT) is Downgraded by Wells Fargo to Underperform

Mantech International Corp (MANT) was Downgraded by Wells Fargo to ” Underperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Aug 30, 2016.

On the company’s financial health, Mantech International Corp reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.35. The company had revenue of $401.35 million for the quarter, compared to analysts expectations of $402.41 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Mantech International Corp closed down -0.5 points or -1.21% at $40.99 with 83,688 shares getting traded on Monday. Post opening the session at $41.37, the shares hit an intraday low of $38.04 and an intraday high of $41.49 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Jul 27, 2016, Mantech International Corp announced a cash dividend of $0.2100. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 23, 2016.

In a different news, on Aug 29, 2016, Kevin M Phillips (Executive Vice President & CFO) sold 13,949 shares at $41.14 per share price. According to the SEC, on Aug 24, 2016, Judith L Bjornaas (SVP & Deputy CFO) sold 13,900 shares at $40.77 per share price. On Aug 10, 2016, Daniel J Keefe (Business Group President) sold 10,000 shares at $39.72 per share price, according to the Form-4 filing with the securities and exchange commission.

ManTech International Corporation is a provider of technologies and solutions for national security programs for the intelligence community; the departments of Defense State Homeland Security Energy and Justice including the Federal Bureau of Investigation; the healthcare and space communities; and other United States federal Government customers. It supports national security programs for around 50 federal agencies through over 1100 contracts. Its solutions and services include cyber; software and systems development; enterprise information technology; multi-discipline intelligence; program protection and mission assurance; systems engineering; test and evaluation; command control communications computers intelligence surveillance and reconnaissance; training; global logistics and supply chain management and management consulting. It offers services to the Unites States Government intelligence military space and civilian agencies and commercial customers among others.

Mantech International Corp

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