Leidos (NYSE:LDOS) Reaches New 1-Year High Following Better-Than-Expected Earnings

Leidos Holdings, Inc. (NYSE:LDOS) hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $182.22 and last traded at $181.25, with a volume of 193719 shares. The stock had previously closed at $169.73.

The aerospace company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.97. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.06 billion. Leidos had a return on equity of 28.40% and a net margin of 2.72%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS.

Leidos Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. This is a positive change from Leidos’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, December 16th. Leidos’s payout ratio is currently 47.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LDOS. Bank of America lifted their price objective on Leidos from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays boosted their price target on Leidos from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on Leidos from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group boosted their price target on Leidos from $205.00 to $228.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price target on Leidos from $183.00 to $230.00 and gave the stock an “overweight” 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.77.

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 that occurred on Tuesday, August 13th. The stock was sold at an average price of $144.02, for a total value of $144,020.00. Following the transaction, the director now directly owns 11,264 shares of the company’s stock, valued at $1,622,241.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Leidos

A number of institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Leidos during the 3rd quarter worth $30,000. 1832 Asset Management L.P. bought a new position in Leidos during the 2nd quarter worth $34,000. Blue Trust Inc. grew its stake in Leidos by 251.3% during the 2nd quarter. Blue Trust Inc. now owns 281 shares of the aerospace company’s stock worth $41,000 after buying an additional 201 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in Leidos during the 3rd quarter worth $46,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Leidos by 122.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 307 shares of the aerospace company’s stock worth $45,000 after buying an additional 169 shares during the last quarter. 76.12% of the stock is currently owned by institutional investors.

Leidos Stock Performance

The stock has a market capitalization of $25.02 billion, a P/E ratio of 58.22, a P/E/G ratio of 1.50 and a beta of 0.70. The stock has a 50 day moving average of $161.89 and a 200 day moving average of $150.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.11 and a current ratio of 1.21.

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.