Leidos (NYSE:LDOS) Releases Quarterly Earnings Results, Beats Expectations By $0.97 EPS

Leidos (NYSE:LDOS) announced its quarterly earnings data on Tuesday. The aerospace company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.97, Briefing.com reports. Leidos had a return on equity of 30.31% and a net margin of 7.37%. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the firm earned $2.03 EPS. Leidos’s revenue for the quarter was up 6.9% compared to the same quarter last year. Leidos updated its FY24 guidance to $9.80-10.00 EPS and its FY 2024 guidance to 9.800-10.000 EPS.

Leidos Trading Down 1.4 %

Shares of LDOS opened at $183.16 on Friday. The stock has a fifty day moving average price of $162.48 and a two-hundred day moving average price of $150.78. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.11 and a current ratio of 1.23. Leidos has a 52-week low of $94.57 and a 52-week high of $188.36. The company has a market cap of $24.44 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.50 and a beta of 0.70.

Leidos Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. This is an increase from Leidos’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.60 annualized dividend and a yield of 0.87%. Leidos’s payout ratio is presently 17.31%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LDOS. Truist Financial lifted their price objective on Leidos from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird lifted their price objective on Leidos from $180.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America lifted their price objective on Leidos from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Barclays lifted their price objective on Leidos from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada boosted their price target on Leidos from $145.00 to $180.00 and gave the company a “sector perform” rating in a research note on Wednesday. Two 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. Based on data from MarketBeat, Leidos has a consensus rating of “Moderate Buy” and a consensus price target of $187.77.

Insider Buying and Selling at Leidos

In other Leidos news, Director Gary Stephen May sold 1,000 shares of Leidos 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 owns 11,264 shares in the company, valued at approximately $1,622,241.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.