Leidos (NYSE:LDOS) Releases Quarterly Earnings Results

Leidos (NYSE:LDOS) issued its earnings results on Tuesday. The aerospace company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.97, Briefing.com reports. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.06 billion. Leidos had a net margin of 2.72% and a return on equity of 28.40%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Leidos updated its FY24 guidance to $9.80-10.00 EPS and its FY 2024 guidance to 9.800-10.000 EPS.

Leidos Trading Up 0.4 %

Shares of LDOS traded up $0.69 on Wednesday, hitting $186.55. 405,564 shares of the stock traded hands, compared to its average volume of 848,450. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $25.13 billion, a P/E ratio of 58.47, a P/E/G ratio of 1.50 and a beta of 0.70. The stock’s 50 day moving average is $161.19 and its two-hundred day moving average is $150.31. Leidos has a 1 year low of $94.57 and a 1 year high of $188.36.

Leidos Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.40 per share. This is an increase from Leidos’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. Leidos’s dividend payout ratio is presently 47.65%.

Wall Street Analysts Forecast Growth

LDOS has been the subject of a number of research reports. Royal Bank of Canada boosted their price target on shares of Leidos from $140.00 to $145.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their target price on shares of Leidos from $205.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial upped their target price on shares of Leidos from $175.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup upped their target price on shares of Leidos from $169.00 to $194.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Leidos from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.85.

Insider Activity at Leidos

In related news, CEO Thomas Arthur Bell purchased 1,712 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $145.04 per share, with a total value of $248,308.48. Following the completion of the purchase, the chief executive officer now directly owns 22,398 shares in the company, valued at approximately $3,248,605.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Gary Stephen May sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $144.02, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Arthur Bell bought 1,712 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $145.04 per share, for a total transaction of $248,308.48. Following the purchase, the chief executive officer now owns 22,398 shares in the company, valued at approximately $3,248,605.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.96% of the company’s stock.

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.