Leidos (NYSE:LDOS) Issues FY24 Earnings Guidance

Leidos (NYSE:LDOS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $9.80-10.00 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LDOS. Bank of America increased their price objective 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. Royal Bank of Canada raised their price objective on Leidos from $145.00 to $180.00 and gave the company a “sector perform” rating in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of Leidos from $183.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial lifted their price objective on shares of Leidos from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Leidos from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.77.

Leidos Stock Performance

Shares of LDOS traded down $2.58 during trading hours on Thursday, reaching $183.16. 1,354,088 shares of the company traded hands, compared to its average volume of 855,899. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average price of $161.89 and a 200-day moving average price of $150.56. Leidos has a 12-month low of $94.57 and a 12-month high of $188.36. The stock has a market capitalization of $24.67 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.50 and a beta of 0.70.

Leidos (NYSE:LDOS) last posted its quarterly 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 return on equity of 28.40% and a net margin of 2.72%. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the business earned $2.03 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Leidos will post 8.96 EPS for the current fiscal year.

Leidos Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Leidos’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 0.87%. Leidos’s dividend payout ratio (DPR) is currently 18.22%.

Insider Buying and Selling at Leidos

In other Leidos news, Director Gary Stephen May sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $144.02, for a total value of $144,020.00. Following the sale, the director now directly owns 11,264 shares of the company’s stock, valued at approximately $1,622,241.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.