ManTech International (NASDAQ:MANT) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

ManTech International (NASDAQ:MANTGet Rating) released its earnings results on Wednesday. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.06, MarketWatch Earnings reports. ManTech International had a return on equity of 9.20% and a net margin of 5.24%. The business had revenue of $675.50 million during the quarter, compared to the consensus estimate of $639.43 million. During the same period last year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. ManTech International updated its FY22 guidance to $3.42-$3.60 EPS.

ManTech International stock traded down $0.32 during midday trading on Friday, reaching $82.70. The company’s stock had a trading volume of 390,740 shares, compared to its average volume of 231,867. The stock’s 50-day simple moving average is $84.86 and its 200-day simple moving average is $78.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58. ManTech International has a 52-week low of $66.91 and a 52-week high of $92.00. The stock has a market capitalization of $3.37 billion, a P/E ratio of 24.98 and a beta of 0.74.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, June 9th. ManTech International’s dividend payout ratio (DPR) is presently 49.55%.

In other news, major shareholder George J. Pedersen sold 9,384,843 shares of the stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $78.22, for a total value of $734,082,419.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 33.59% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of ManTech International by 4.3% during the fourth quarter. BlackRock Inc. now owns 4,370,169 shares of the technology company’s stock worth $318,716,000 after purchasing an additional 179,823 shares during the last quarter. State Street Corp raised its holdings in shares of ManTech International by 10.0% during the fourth quarter. State Street Corp now owns 1,047,064 shares of the technology company’s stock worth $76,362,000 after purchasing an additional 94,965 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of ManTech International by 15.6% during the fourth quarter. Legal & General Group Plc now owns 505,278 shares of the technology company’s stock worth $36,850,000 after purchasing an additional 68,010 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ManTech International by 6.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 444,817 shares of the technology company’s stock worth $32,440,000 after purchasing an additional 26,324 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of ManTech International during the fourth quarter worth $1,707,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on ManTech International from $77.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 24th. StockNews.com assumed coverage on ManTech International in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley raised their price objective on ManTech International from $83.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, March 18th. Zacks Investment Research downgraded ManTech International from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Finally, William Blair raised ManTech International from a “market perform” rating to an “outperform” rating in a research report on Friday, February 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.00.

ManTech International Company Profile (Get Rating)

ManTech International Corporation provides technology solutions and services for U.S. defense, intelligence community, and federal civilian agencies worldwide. The company offers cyber solutions and services, including security operations, threat intelligence, incident response and forensics, boundary defense, security systems engineering, infrastructure security, and computer forensics and exploitation.

Further Reading

Earnings History for ManTech International (NASDAQ:MANT)

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