Leidos (NYSE:LDOS) Issues FY24 Earnings Guidance

Leidos (NYSE:LDOS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $9.80-10.00 for the period, compared to the consensus earnings per share estimate of $9.07. The company issued revenue guidance of $16.35-16.45 billion, compared to the consensus revenue estimate of $16.29 billion.

Leidos Trading Up 4.3 %

Shares of LDOS stock opened at $177.00 on Tuesday. The business’s fifty day moving average price is $160.48 and its 200 day moving average price is $149.88. The firm has a market capitalization of $23.84 billion, a PE ratio of 53.21, a P/E/G ratio of 1.50 and a beta of 0.70. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.21 and a quick ratio of 1.11. Leidos has a 1-year low of $90.53 and a 1-year high of $177.00.

Leidos (NYSE:LDOS) last posted its quarterly earnings results on Tuesday, July 30th. The aerospace company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.36. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Leidos had a net margin of 2.72% and a return on equity of 28.40%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 EPS. As a group, sell-side analysts forecast that Leidos will post 8.96 EPS for the current fiscal year.

Leidos Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 0.90%. This is an increase from Leidos’s previous quarterly dividend of $0.38. Leidos’s payout ratio is currently 47.65%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LDOS. Wells Fargo & Company lifted their price target on shares of Leidos from $172.00 to $183.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Bank of America boosted their target price on Leidos from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada raised their price target on Leidos from $140.00 to $145.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Barclays lifted their price target on Leidos from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Citigroup increased their price objective on shares of Leidos from $169.00 to $194.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.92.

Insider Transactions at Leidos

In related news, Director Gary Stephen May sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $144.02, for a total transaction of $144,020.00. Following the transaction, the director now owns 11,264 shares of the company’s stock, valued at approximately $1,622,241.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Gary Stephen May sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $144.02, for a total value of $144,020.00. Following the completion of the transaction, the director now directly owns 11,264 shares in the company, valued at approximately $1,622,241.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert C. Kovarik, Jr. sold 1,059 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $145.23, for a total value of $153,798.57. Following the transaction, the director now owns 7,455 shares in the company, valued at $1,082,689.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

About Leidos

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.