Leidos (NYSE:LDOS) Updates FY24 Earnings Guidance

Leidos (NYSE:LDOS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $9.80-10.00 for the period, compared to the consensus EPS 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 also updated its FY 2024 guidance to 9.800-10.000 EPS.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup raised their target price on shares of Leidos from $194.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Leidos from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. 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. Robert W. Baird lifted their price target on Leidos from $180.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped their price objective on Leidos from $205.00 to $228.00 and gave the stock 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Leidos presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.77.

Leidos Stock Up 0.6 %

LDOS stock traded up $1.05 during mid-day trading on Friday, reaching $184.21. The company had a trading volume of 327,378 shares, compared to its average volume of 853,346. The company has a market capitalization of $24.58 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.50 and a beta of 0.70. Leidos has a 52 week low of $100.17 and a 52 week high of $188.36. The stock has a 50 day simple moving average of $162.48 and a two-hundred day simple moving average of $150.78. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.23 and a quick ratio of 1.11.

Leidos (NYSE:LDOS) last released its earnings results on Tuesday, October 29th. The aerospace company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.97. Leidos had a net margin of 7.37% and a return on equity of 30.31%. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the business earned $2.03 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts predict that Leidos will post 9.9 earnings per share for the current fiscal year.

Leidos Increases Dividend

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

Insider Activity at Leidos

In related news, Director Gary Stephen May sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $144.02, for a total transaction of $144,020.00. Following the transaction, the director now directly owns 11,264 shares of the company’s stock, valued at approximately $1,622,241.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently 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.