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Why the Market Dipped But Leidos (LDOS) Gained Today
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Leidos (LDOS - Free Report) closed the most recent trading day at $129.24, moving +0.45% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the security and engineering company had lost 0.08% in the past month. In that same time, the Aerospace sector gained 2.91%, while the S&P 500 gained 2.57%.
Market participants will be closely following the financial results of Leidos in its upcoming release. The company plans to announce its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $1.66, marking a 12.93% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $3.8 billion, indicating a 2.65% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.76 per share and revenue of $15.97 billion, indicating changes of +6.3% and +3.48%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Leidos. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.09% upward. Leidos is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Leidos is holding a Forward P/E ratio of 16.58. This denotes a discount relative to the industry's average Forward P/E of 18.42.
One should further note that LDOS currently holds a PEG ratio of 1.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Aerospace - Defense industry stood at 1.87 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why the Market Dipped But Leidos (LDOS) Gained Today
Leidos (LDOS - Free Report) closed the most recent trading day at $129.24, moving +0.45% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the security and engineering company had lost 0.08% in the past month. In that same time, the Aerospace sector gained 2.91%, while the S&P 500 gained 2.57%.
Market participants will be closely following the financial results of Leidos in its upcoming release. The company plans to announce its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $1.66, marking a 12.93% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $3.8 billion, indicating a 2.65% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.76 per share and revenue of $15.97 billion, indicating changes of +6.3% and +3.48%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Leidos. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.09% upward. Leidos is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Leidos is holding a Forward P/E ratio of 16.58. This denotes a discount relative to the industry's average Forward P/E of 18.42.
One should further note that LDOS currently holds a PEG ratio of 1.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Aerospace - Defense industry stood at 1.87 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.