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One such stock that you may want to consider dropping is Leidos Holdings, Inc. LDOS, which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #5 (Strong Sell) further confirms weakness in LDOS.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 6 estimates moving down in the past 30 days, compared with no upward revision. This trend has caused the consensus estimate to trend lower, going from $2.86 a share a month ago to its current level of $2.42.
Also, for the current quarter, Leidos Holdings has seen 5 downward estimate revisions versus no revision in the opposite direction, dragging the consensus estimate down to 54 cents a share from 63 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 11.26% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don't have a long time horizon to wait.
If you are still interested in the Aerospace/Defense industry, you may instead consider some better-ranked stocks including Huntington Ingalls Industries, Inc. HII, General Dynamics Corp. GD and Embraer SA ERJ. Among these stocks Huntington Ingalls Industries holds a Zacks Rank #1 (Strong Buy) and General Dynamics and Embraer hold a Zacks Rank #2(Buy). With favorable Zacks Ranks, these stocks may be better selections at this time.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
EMBRAER AIR-ADR ERJ: Free Stock Analysis Report
GENL DYNAMICS GD: Free Stock Analysis Report
HUNTINGTON INGL HII: Free Stock Analysis Report
LEIDOS HOLDINGS LDOS: Free Stock Analysis Report
To read this article on Zacks.com click here.
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