Kratos Defense & Security Solutions (NASDAQ:KTOS) Releases Earnings Results, Beats Estimates By $0.06 EPS

Kratos Defense & Security Solutions (NASDAQ:KTOS) announced its earnings results on Wednesday. The aerospace company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06, Briefing.com reports. Kratos Defense & Security Solutions had a negative net margin of 0.06% and a positive return on equity of 3.43%. The company had revenue of $300.10 million for the quarter, compared to analyst estimates of $276.08 million. During the same period in the prior year, the business earned $0.05 earnings per share. Kratos Defense & Security Solutions’s quarterly revenue was up 16.8% on a year-over-year basis. Kratos Defense & Security Solutions updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Kratos Defense & Security Solutions Stock Down 1.4 %

Kratos Defense & Security Solutions stock traded down $0.29 during mid-day trading on Wednesday, reaching $20.07. The company’s stock had a trading volume of 818,985 shares, compared to its average volume of 1,179,722. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 84.73 and a beta of 1.05. Kratos Defense & Security Solutions has a 12 month low of $13.98 and a 12 month high of $22.96. The business’s 50 day simple moving average is $20.92 and its 200 day simple moving average is $19.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.47 and a current ratio of 3.02.

Insider Activity at Kratos Defense & Security Solutions

In related news, insider Steven S. Fendley sold 7,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $22.68, for a total value of $158,760.00. Following the completion of the transaction, the insider now owns 377,322 shares of the company’s stock, valued at $8,557,662.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Marie Mendoza sold 1,500 shares of Kratos Defense & Security Solutions stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $20.20, for a total value of $30,300.00. Following the completion of the transaction, the senior vice president now owns 65,515 shares of the company’s stock, valued at approximately $1,323,403. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven S. Fendley sold 7,000 shares of Kratos Defense & Security Solutions stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $22.68, for a total transaction of $158,760.00. Following the completion of the transaction, the insider now directly owns 377,322 shares of the company’s stock, valued at approximately $8,557,662.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 175,220 shares of company stock valued at $3,777,256. Corporate insiders own 2.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KTOS shares. Raymond James upgraded shares of Kratos Defense & Security Solutions from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $20.00 to $27.00 in a report on Friday, April 26th. Royal Bank of Canada increased their price objective on shares of Kratos Defense & Security Solutions from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, June 3rd. Jefferies Financial Group cut their price objective on shares of Kratos Defense & Security Solutions from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. JMP Securities assumed coverage on shares of Kratos Defense & Security Solutions in a report on Tuesday, May 28th. They issued a “market outperform” rating and a $27.00 target price on the stock. Finally, BTIG Research assumed coverage on shares of Kratos Defense & Security Solutions in a report on Wednesday, June 26th. They issued a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kratos Defense & Security Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc operates as a technology company that addresses the defense, national security, and commercial markets. It operates through two segments, Kratos Government Solutions and Unmanned Systems. The company offers ground systems for satellites and space vehicles, including software for command and control, telemetry, and tracking and control; jet-powered unmanned aerial drone systems, hypersonic vehicles, and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; command, control, communication, computing, combat, intelligence surveillance and reconnaissance; and microwave electronic products for missile, radar, missile defense, space, and satellite; counter unmanned aircraft systems, directed energy, communication and other systems, and virtual and augmented reality training systems for the warfighter.