Leidos (NYSE:LDOS) Posts Quarterly Earnings Results, Beats Expectations By $0.36 EPS

Leidos (NYSE:LDOS) issued its quarterly earnings data on Tuesday. The aerospace company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.36, Briefing.com reports. Leidos had a return on equity of 25.66% and a net margin of 2.04%. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the business earned $1.80 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Leidos updated its FY 2024 guidance to 8.600-9.000 EPS and its FY24 guidance to $8.60-9.00 EPS.

Leidos Stock Down 1.1 %

LDOS traded down $1.58 on Wednesday, reaching $144.40. The company’s stock had a trading volume of 1,825,855 shares, compared to its average volume of 894,706. The stock has a market cap of $19.52 billion, a price-to-earnings ratio of 62.24, a price-to-earnings-growth ratio of 1.58 and a beta of 0.68. Leidos has a 1 year low of $89.22 and a 1 year high of $155.45. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.35 and a quick ratio of 1.24. The business’s 50 day moving average is $147.46 and its 200 day moving average is $134.05.

Leidos Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, September 13th. Leidos’s dividend payout ratio is currently 65.52%.

Insider Activity at Leidos

In other Leidos news, insider Roy E. Stevens sold 875 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $150.67, for a total transaction of $131,836.25. Following the transaction, the insider now owns 44,149 shares of the company’s stock, valued at approximately $6,651,929.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LDOS shares. TD Cowen upped their price objective on Leidos from $155.00 to $166.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus upped their target price on Leidos from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Wells Fargo & Company upped their target price on Leidos from $137.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Citigroup upped their target price on Leidos from $165.00 to $169.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada upped their target price on Leidos from $140.00 to $145.00 and gave the company a “sector perform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.69.

Leidos Company Profile

Leidos Holdings, Inc, together with its subsidiaries, provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. The company operates through Defense Solutions, Civil, and Health segments. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S.