On August 4, Leidos rose 5.77% in regular trading, trading at $126.975/share, with turnover of $46.77 million. The rally was driven by the company's strong fiscal Q2 earnings report and an upward revision to full-year guidance.
Leidos reported Q2 adjusted earnings of $3.26 per diluted share, beating the analyst consensus estimate of $2.91 by approximately 12%, and up from $3.21 a year earlier. Revenue for the quarter reached $4.558 billion, representing 7% year-over-year growth and exceeding the market estimate of $4.437 billion. Based on continued strong business execution, the company raised its fiscal full-year guidance, now expecting adjusted EPS of $12.20 to $12.50 versus the FactSet consensus of $12.33, and revenue of $18.2 billion to $18.4 billion.
Multiple investment banks had previously lowered their price targets on Leidos due to uncertainty in the health and defense portfolios. This consecutive quarter of beats may help restore market confidence in the stock's near-term trajectory.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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