Leidos (NYSE:LDOS) Releases FY24 Earnings Guidance

Leidos (NYSE:LDOS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $8.40-8.80 for the period, compared to the consensus earnings per share estimate of $7.85. The company issued revenue guidance of $16.0-16.4 billion, compared to the consensus revenue estimate of $16.02 billion. Leidos also updated its FY 2024 guidance to 8.400-8.800 EPS.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LDOS. Argus boosted their target price on shares of Leidos from $120.00 to $145.00 and gave the stock a buy rating in a report on Wednesday, March 20th. Robert W. Baird boosted their price objective on Leidos from $133.00 to $145.00 and gave the company an outperform rating in a report on Wednesday, February 14th. StockNews.com lowered shares of Leidos from a strong-buy rating to a buy rating in a research report on Friday. Bank of America upped their price objective on shares of Leidos from $125.00 to $145.00 and gave the stock a buy rating in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada raised their price objective on Leidos from $105.00 to $120.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $132.42.

Leidos Price Performance

NYSE:LDOS traded up $7.52 during trading hours on Tuesday, reaching $139.14. 2,023,579 shares of the company traded hands, compared to its average volume of 845,418. The stock has a market cap of $18.80 billion, a P/E ratio of 92.69, a P/E/G ratio of 1.80 and a beta of 0.70. The firm’s 50-day moving average is $127.74 and its 200-day moving average is $114.22. Leidos has a 1-year low of $76.58 and a 1-year high of $140.91. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.34 and a quick ratio of 1.24.

Leidos (NYSE:LDOS) last announced its quarterly earnings data on Tuesday, April 30th. The aerospace company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.59. Leidos had a net margin of 1.29% and a return on equity of 22.92%. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the company earned $1.47 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts expect that Leidos will post 7.77 earnings per share for the current fiscal year.

Leidos Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.38 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.09%. Leidos’s dividend payout ratio (DPR) is 107.04%.

Insiders Place Their Bets

In other news, Director Gary Stephen May sold 2,745 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $124.49, for a total value of $341,725.05. Following the completion of the sale, 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 SEC, which is available at this hyperlink. In related news, Director Gary Stephen May sold 2,745 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $124.49, for a total value of $341,725.05. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. Also, Director David G. Fubini sold 7,874 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $127.89, for a total transaction of $1,007,005.86. Following the completion of the transaction, the director now owns 14,696 shares in the company, valued at approximately $1,879,471.44. The disclosure for this sale can be found here. 0.96% of the stock is currently 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.