Leidos (NYSE:LDOS) Releases FY 2024 Earnings Guidance

Leidos (NYSE:LDOS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 8.400-8.800 for the period, compared to the consensus estimate of 7.850. The company issued revenue guidance of $16.0 billion-$16.4 billion, compared to the consensus revenue estimate of $16.0 billion. Leidos also updated its FY24 guidance to $8.40-8.80 EPS.

Leidos Price Performance

Shares of NYSE:LDOS traded up $1.55 on Wednesday, reaching $141.77. The company’s stock had a trading volume of 416,845 shares, compared to its average volume of 860,982. Leidos has a 52-week low of $76.58 and a 52-week high of $141.86. The company has a market cap of $19.16 billion, a P/E ratio of 98.61, a PEG ratio of 1.82 and a beta of 0.70. The company has a 50-day simple moving average of $128.08 and a 200 day simple moving average of $114.53. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.24 and a current ratio of 1.34.

Leidos (NYSE:LDOS) last released its quarterly earnings data on Tuesday, April 30th. The aerospace company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.59. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Leidos had a net margin of 1.29% and a return on equity of 22.92%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.47 EPS. As a group, equities research analysts anticipate that Leidos will post 7.77 EPS for the current fiscal year.

Leidos Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.07%. Leidos’s payout ratio is 107.04%.

Wall Street Analyst Weigh In

LDOS has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on shares of Leidos from $105.00 to $120.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. Robert W. Baird lifted their price target on shares of Leidos from $145.00 to $180.00 and gave the company an outperform rating in a research report on Wednesday. Bank of America lifted their price objective on shares of Leidos from $125.00 to $145.00 and gave the company a buy rating in a report on Wednesday, March 27th. Truist Financial reiterated a buy rating and set a $165.00 price target (up previously from $150.00) on shares of Leidos in a report on Wednesday. Finally, Stifel Nicolaus upped their price target on shares of Leidos from $138.00 to $160.00 and gave the company a buy rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Leidos currently has an average rating of Moderate Buy and a consensus target price of $139.50.

Insider Activity

In related news, Director Gary Stephen May sold 2,745 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $124.49, for a total transaction of $341,725.05. Following the completion of the sale, the director now directly owns 11,352 shares of the company’s stock, valued at $1,413,210.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Leidos news, Director David G. Fubini sold 7,874 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $127.89, for a total transaction of $1,007,005.86. Following the sale, the director now directly owns 14,696 shares of the company’s stock, valued at $1,879,471.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Stephen May sold 2,745 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $124.49, for a total transaction of $341,725.05. Following the completion of the transaction, the director now directly owns 11,352 shares in the company, valued at $1,413,210.48. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

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.