Leidos (NYSE:LDOS) Reaches New 12-Month High Following Strong Earnings

Shares of Leidos Holdings, Inc. (NYSE:LDOS) reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $182.22 and last traded at $181.25, with a volume of 193719 shares changing hands. The stock had previously closed at $169.73.

The aerospace company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.97. The business 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 firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.03 earnings per share.

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 represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Leidos’s previous quarterly dividend of $0.38. Leidos’s dividend payout ratio is 47.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Leidos from $180.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada upped their target price on shares of Leidos from $145.00 to $180.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Bank of America lifted their price target on shares of Leidos from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their price objective on Leidos from $183.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their target price on Leidos from $205.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Leidos presently has an average rating of “Moderate Buy” and a consensus price target of $187.77.

Insider Transactions at Leidos

In related news, Director Gary Stephen May sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $144.02, for a total transaction of $144,020.00. Following the sale, the director now owns 11,264 shares of the company’s stock, valued at $1,622,241.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Leidos

Hedge funds have recently modified their holdings of the company. Boston Partners raised its stake in shares of Leidos by 5.8% during the 1st quarter. Boston Partners now owns 3,430,264 shares of the aerospace company’s stock worth $449,592,000 after acquiring an additional 188,458 shares in the last quarter. Millennium Management LLC grew its holdings in Leidos by 156.5% in the second quarter. Millennium Management LLC now owns 1,133,508 shares of the aerospace company’s stock worth $165,356,000 after purchasing an additional 691,575 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Leidos by 51.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 837,370 shares of the aerospace company’s stock worth $136,491,000 after purchasing an additional 283,558 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Leidos by 39.7% during the second quarter. Panagora Asset Management Inc. now owns 782,161 shares of the aerospace company’s stock worth $114,102,000 after purchasing an additional 222,179 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Leidos by 76.9% during the 2nd quarter. AQR Capital Management LLC now owns 698,807 shares of the aerospace company’s stock valued at $101,942,000 after purchasing an additional 303,775 shares during the last quarter. 76.12% of the stock is owned by hedge funds and other institutional investors.

Leidos Price Performance

The stock has a 50-day moving average price of $161.89 and a two-hundred day moving average price of $150.56. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.91. The stock has a market cap of $25.02 billion, a price-to-earnings ratio of 58.22, a PEG ratio of 1.50 and a beta of 0.70.

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.