Leidos (NYSE:LDOS) Releases FY 2024 Earnings Guidance

Leidos (NYSE:LDOS) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 8.400-8.800 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays upgraded shares of Leidos from an equal weight rating to an overweight rating in a research note on Friday, January 5th. Robert W. Baird raised their price target on Leidos from $145.00 to $180.00 and gave the company an outperform rating in a research report on Wednesday. Truist Financial reissued a buy rating and set a $165.00 price objective (up previously from $150.00) on shares of Leidos in a research report on Wednesday. Stifel Nicolaus increased their target price on Leidos from $138.00 to $160.00 and gave the company a buy rating in a research note on Wednesday. Finally, TheStreet raised Leidos from a c rating to a b rating in a research report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $141.17.

Leidos Stock Performance

Leidos stock traded down $0.75 on Thursday, hitting $141.44. The company’s stock had a trading volume of 350,221 shares, compared to its average volume of 873,711. The company has a fifty day moving average price of $128.44 and a 200-day moving average price of $114.73. The firm has a market cap of $19.11 billion, a P/E ratio of 61.30, a price-to-earnings-growth ratio of 1.75 and a beta of 0.66. Leidos has a one year low of $76.58 and a one year high of $142.90. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 1.07.

Leidos (NYSE:LDOS) last posted its earnings results on Tuesday, April 30th. The aerospace company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.59. Leidos had a net margin of 2.04% and a return on equity of 25.66%. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that Leidos will post 8.6 earnings per share for the current year.

Leidos Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.07%. Leidos’s dividend payout ratio is currently 65.52%.

Insider Activity

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

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.