Q2 2023 Earnings Forecast for Leidos Holdings, Inc. Issued By Zacks Research (NYSE:LDOS)

Leidos Holdings, Inc. (NYSE:LDOS – Get Rating) – Equities research analysts at Zacks Research cut their Q2 2023 earnings per share (EPS) estimates for Leidos in a research note issued on Tuesday, May 16th. Zacks Research analyst A. Dutta now expects that the aerospace company will earn $1.53 per share for the quarter, down from their previous estimate of $1.63. The consensus estimate for Leidos’ current full-year earnings is $6.56 per share. Zacks Research also issued estimates for Leidos’ Q4 2023 earnings at $1.74 EPS, FY2023 earnings at $6.41 EPS, Q2 2024 earnings at $1.70 EPS, Q4 2024 earnings at $1.81 EPS and FY2024 earnings at $7.02 EPS.

Leidos (NYSE:LDOS – Get Rating) last released its earnings results on Tuesday, May 2nd. The aerospace company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.12). Leidos had a net margin of 4.60% and a return on equity of 21.00%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the company earned $1.58 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year.

LDOS has been the topic of several other research reports. Jefferies Financial Group cut shares of Leidos from a “buy” rating to a “hold” rating and dropped their price target for the stock from $120.00 to $95.00 in a research note on Monday, March 27th. Royal Bank of Canada decreased their price target on shares of Leidos from $100.00 to $90.00 in a research note on Wednesday, May 3rd. Barclays reduced their target price on shares of Leidos from $113.00 to $90.00 in a report on Tuesday, May 9th. Wells Fargo & Company reduced their target price on shares of Leidos from $103.00 to $87.00 in a report on Wednesday, May 3rd. Finally, Citigroup cut their price target on shares of Leidos from $130.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, February 16th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.75.

Leidos Price Performance

Shares of LDOS opened at $78.40 on Friday. The company has a market capitalization of $10.75 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.76. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $88.42 and a 200 day moving average of $97.49. Leidos has a twelve month low of $76.58 and a twelve month high of $110.91.

Leidos Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Wednesday, June 14th. Leidos’s dividend payout ratio (DPR) is 29.63%.

Insider Buying and Selling

In other news, EVP Jerald S. Howe, Jr. acquired 1,200 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were bought at an average cost of $80.25 per share, with a total value of $96,300.00. Following the transaction, the executive vice president now owns 16,958 shares in the company, valued at approximately $1,360,879.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jerald S. Howe, Jr. acquired 1,200 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was bought at an average price of $80.25 per share, for a total transaction of $96,300.00. Following the transaction, the executive vice president now owns 16,958 shares in the company, valued at $1,360,879.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Stephen May sold 2,618 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $78.71, for a total transaction of $206,062.78. Following the completion of the transaction, the director now owns 11,352 shares of the company’s stock, valued at approximately $893,515.92. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Leidos

Several hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. increased its stake in shares of Leidos by 2.2% in the third quarter. Bessemer Group Inc. now owns 6,064 shares of the aerospace company’s stock worth $531,000 after buying an additional 131 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Leidos by 29.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,976 shares of the aerospace company’s stock worth $173,000 after purchasing an additional 452 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in Leidos by 40.6% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 2,298 shares of the aerospace company’s stock worth $201,000 after purchasing an additional 664 shares during the period. Natixis Advisors L.P. raised its position in Leidos by 29.8% in the fourth quarter. Natixis Advisors L.P. now owns 147,630 shares of the aerospace company’s stock worth $15,529,000 after acquiring an additional 33,893 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Leidos by 5.9% in the fourth quarter. California Public Employees Retirement System now owns 811,173 shares of the aerospace company’s stock worth $85,327,000 after acquiring an additional 45,234 shares in the last quarter. 75.74% of the stock is owned by institutional investors and hedge funds.

About Leidos

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Leidos Holdings, Inc engages in the provision of services and solutions in the defense, intelligence, civil and health markets. It operates through the following three segments: Defense Solutions, Civil, and Health. The Defense Solutions segment provides services, solutions, and products focusing on digital modernization, mission systems and integration, Command, Control, Computers, Communications, Intelligence, Surveillance and Reconnaissance (“”C4ISR””) technologies and services, maritime solutions, transformative software, analytics, intelligence analysis, mission support and logistics services, weapons systems and space systems and solutions.