Leidos (NYSE:LDOS) Shares Gap Up Following Earnings Beat

Leidos Holdings, Inc. (NYSE:LDOS) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $131.62, but opened at $139.09. Leidos shares last traded at $136.40, with a volume of 685,962 shares changing hands.

The aerospace company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.59. Leidos had a return on equity of 22.92% and a net margin of 1.29%. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the firm earned $1.47 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis.

Leidos Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.07%. Leidos’s payout ratio is currently 107.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Leidos from $138.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com cut shares of Leidos from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Bank of America lifted their price target on shares of Leidos from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Robert W. Baird boosted their price objective on shares of Leidos from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Truist Financial restated a “buy” rating and set a $165.00 target price (up from $150.00) on shares of Leidos in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.17.

Insider Transactions at Leidos

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 value of $341,725.05. Following the completion of the transaction, the director now owns 11,352 shares of the company’s stock, valued at $1,413,210.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David G. Fubini sold 7,874 shares of Leidos stock in a transaction dated 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 completion of the sale, the director now directly owns 14,696 shares in the company, valued at $1,879,471.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary Stephen May sold 2,745 shares of the company’s stock in a transaction dated 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 $1,413,210.48. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Leidos

Large investors have recently modified their holdings of the stock. Czech National Bank grew its position in shares of Leidos by 0.5% in the first quarter. Czech National Bank now owns 24,194 shares of the aerospace company’s stock valued at $3,172,000 after purchasing an additional 111 shares during the last quarter. Assetmark Inc. boosted its stake in Leidos by 0.4% in the 4th quarter. Assetmark Inc. now owns 31,662 shares of the aerospace company’s stock valued at $3,427,000 after purchasing an additional 120 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Leidos by 1.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,858 shares of the aerospace company’s stock valued at $1,001,000 after buying an additional 122 shares in the last quarter. Spire Wealth Management increased its position in Leidos by 2.2% during the 4th quarter. Spire Wealth Management now owns 5,756 shares of the aerospace company’s stock worth $632,000 after buying an additional 125 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in Leidos by 2.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,378 shares of the aerospace company’s stock worth $582,000 after buying an additional 134 shares during the period. 76.12% of the stock is owned by institutional investors.

Leidos Stock Up 1.4 %

The stock has a fifty day moving average price of $128.44 and a two-hundred day moving average price of $114.73. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 100.15, a P/E/G ratio of 1.82 and a beta of 0.70. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.10.

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.