Computer Sciences Corp Shares Soar on Better-Than-Expected Q3 Earnings Results and Forecast (CSC)

Computer Sciences Corp Shares Soar on Better-Than-Expected Q3 Earnings Results and Forecast (CSC)

RSS

On Tuesday, information technology company Computer Sciences Corporation (CSC) said it turned a big profit in the third quarter, easily beating analysts’ projections. The results caused shares to spike in early trading.

The Falls Church, Virginia-based company posted third quarter net income of $510 million, or $3.27 per share, versus a loss of $1.39 billion, or $8.96 per share, in the year earlier period. Income from continuing operations in the qarter was $123 million, or 77 cents per share, compared to a loss of $1.42 billion, or $9.15 per share, in the previous year.

CSC revenue was up about 3% in the quarter, coming in at $3.78 billion versus $3.69 billion a year earlier.

According to analysts polled by Thomson Reuters, the consensus view was that CSC would earn a much-lower 58 cents per share on smaller revenue of $3.69 billion.

The company also boosted its fiscal 2013 estimates; it now expects to earn between $2.50 and $2.70 per share, up from the previous forecast of $2.30 to $2.50 per share. Analysts project full-year earnings to be $2.37 per share.

Computer Sciences Corp shares were up $3.77, or +9.00%, during morning trading on Tuesday. The stock is up about 63% over the trailing twelve months.

The Bottom Line
Shares of Computer Sciences Corporation have a dividend yield of 1.76% based on Tuesday’s intraday trading price of $45.39 and the company’s annualized dividend payout of 80 cents per share.

Computer Sciences Corporation (CSC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today