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Should You Buy #1 (Strong Buy)-Ranked Leidos (LDOS) for Your Portfolio?
Leidos was upgraded to the Zacks Rank #1 list on May 7, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Founded in 1969, Delaware-based Leidos Holdings, Inc. is a global science and technology leader that serves the defense, intelligence, civil and health markets. Its core capabilities include providing solutions in the fields of cybersecurity; data analytics; enterprise IT modernization; operations and logistics; sensors, collection and phenomenology; software development; and systems engineering. Outside the United States, the company’s international customers include foreign governments and their agencies, primarily located in the United Kingdom, the Middle East and Australia.
Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.70 to $8.37 per share. LDOS also boasts an average earnings surprise of 23.4%.
Earnings are expected to grow 14.7% for the current fiscal year, while revenue is projected to increase 4.1%.
Additionally, LDOS has climbed higher over the past four weeks, gaining 18.6%. The S&P 500 is up 7.1% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Leidos could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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