The Jeuns

“Company’s Stock Falls 11.34% to 6.46 Due to Earnings Disappointment”

March 18, 2024 | by The Jeuns

Science Applications Internation (SAIC) reported strong earnings in quarter four of 2024, with earnings of .43 per share on a revenue of .7 billion. This beat estimates by million, although it was lower than the earnings of .04 per share on revenue of billion in the same quarter a year ago. As a result, the stock fell 11.34% to 6.46 after the report.

Despite the drop in profit margins, Science Applications Internation has been performing well over the past few months. The company received a Bullish Sentiment Rank from InvestorsObserver leading up to the report, and has a high Long-Term Technical Rank of 78, placing it in the top 25% of stocks. SAIC hit a 52-week high of 5.17 on March 6, 2024, and reached a low of .43 on May 25, 2023.

Science Applications International Corp provides technical, engineering, and enterprise IT services mainly to the U.S. government. Their services include engineering, systems integration, and information technology for government projects, emphasizing higher-end technology services. Their end-to-end enterprise IT offerings cover the full range of customers’ IT infrastructure. Wall Street analysts had previously given a Hold recommendation for the company, but this could change based on the latest earnings report.

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