Leidos (NYSE:LDOS) Reaches New 12-Month High Following Strong Earnings

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

The aerospace company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.97. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Leidos had a net margin of 2.72% and a return on equity of 28.40%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.03 earnings per share.

Leidos Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Leidos’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 0.86%. Leidos’s payout ratio is 47.65%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen raised their price objective on Leidos from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial raised their target price on shares of Leidos from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup upped their price target on shares of Leidos from $194.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird raised their price objective on shares of Leidos from $180.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Bank of America increased their price target on Leidos from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.77.

Insider Activity at Leidos

In other Leidos news, Director Gary Stephen May sold 1,000 shares of Leidos 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 sale, the director now owns 11,264 shares of the company’s stock, valued at $1,622,241.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Leidos

Several institutional investors have recently bought and sold shares of LDOS. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Leidos by 9.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,231 shares of the aerospace company’s stock valued at $3,439,000 after acquiring an additional 2,259 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Leidos in the 1st quarter valued at approximately $305,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Leidos by 3.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 464,406 shares of the aerospace company’s stock valued at $60,879,000 after purchasing an additional 16,446 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Leidos by 3.3% in the 1st quarter. Private Advisor Group LLC now owns 5,195 shares of the aerospace company’s stock worth $681,000 after purchasing an additional 165 shares during the period. Finally, Smith Group Asset Management LLC bought a new position in shares of Leidos during the 1st quarter valued at approximately $13,397,000. Institutional investors own 76.12% of the company’s stock.

Leidos Stock Down 0.1 %

The company has a market cap of $25.02 billion, a PE ratio of 58.22, a price-to-earnings-growth ratio of 1.50 and a beta of 0.70. The company has a fifty day moving average of $161.89 and a two-hundred 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.