Booz Allen Hamilton (NYSE:BAH) Updates FY24 Earnings Guidance

Posted by Defense World Staff on Jul 31st, 2023

Booz Allen Hamilton (NYSE:BAH – Get Free Report) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $4.80-$4.95 for the period, compared to the consensus EPS estimate of $4.95. The company issued revenue guidance of $9.95-$10.32 billion, compared to the consensus revenue estimate of $10.12 billion.

Booz Allen Hamilton Stock Up 6.1 %

Shares of NYSE:BAH opened at $120.94 on Monday. Booz Allen Hamilton has a 52-week low of $87.99 and a 52-week high of $121.60. The company has a market capitalization of $15.82 billion, a PE ratio of 54.72, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.21 and a current ratio of 1.21. The company has a fifty day moving average of $107.85 and a 200-day moving average of $99.17.

Booz Allen Hamilton (NYSE:BAH – Get Free Report) last released its quarterly earnings data on Friday, May 26th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.09. Booz Allen Hamilton had a return on equity of 53.60% and a net margin of 2.94%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Booz Allen Hamilton will post 4.89 EPS for the current fiscal year.

Booz Allen Hamilton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.55%. Booz Allen Hamilton’s dividend payout ratio (DPR) is presently 85.07%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stifel Nicolaus upped their target price on Booz Allen Hamilton from $125.00 to $127.00 in a report on Friday. Jefferies Financial Group upped their price objective on shares of Booz Allen Hamilton from $115.00 to $120.00 in a research note on Monday, June 12th. StockNews.com began coverage on shares of Booz Allen Hamilton in a research note on Thursday, May 18th. They set a hold rating for the company. Barclays upped their price target on shares of Booz Allen Hamilton from $107.00 to $108.00 in a research report on Wednesday, May 31st. Finally, 51job reissued a maintains rating on shares of Booz Allen Hamilton in a research report on Wednesday, May 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Booz Allen Hamilton has an average rating of Moderate Buy and a consensus target price of $112.00.

Insider Buying and Selling at Booz Allen Hamilton

In other news, EVP Susan L. Penfield sold 22,600 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $100.78, for a total value of $2,277,628.00. Following the completion of the sale, the executive vice president now directly owns 19,793 shares in the company, valued at approximately $1,994,738.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Booz Allen Hamilton news, EVP Susan L. Penfield sold 22,600 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $100.78, for a total value of $2,277,628.00. Following the transaction, the executive vice president now owns 19,793 shares in the company, valued at $1,994,738.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Horacio Rozanski sold 44,690 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $108.37, for a total value of $4,843,055.30. Following the sale, the chief executive officer now owns 630,511 shares of the company’s stock, valued at approximately $68,328,477.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,920 shares of company stock valued at $13,140,062. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Booz Allen Hamilton

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bridgewater Associates LP bought a new stake in Booz Allen Hamilton during the first quarter worth $593,000. Pearl River Capital LLC bought a new stake in shares of Booz Allen Hamilton in the 1st quarter worth $605,000. NewEdge Advisors LLC raised its holdings in shares of Booz Allen Hamilton by 94.7% in the first quarter. NewEdge Advisors LLC now owns 12,223 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 5,945 shares during the last quarter. Covestor Ltd lifted its position in shares of Booz Allen Hamilton by 56.4% during the first quarter. Covestor Ltd now owns 1,445 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 521 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Booz Allen Hamilton by 28.8% during the first quarter. Cetera Investment Advisers now owns 5,464 shares of the business services provider’s stock worth $480,000 after purchasing an additional 1,223 shares during the last quarter. 89.45% of the stock is owned by institutional investors.

Booz Allen Hamilton Company Profile

(Get Free Report)

Booz Allen Hamilton Holding Corporation provides management and technology consulting, analytics, engineering, digital solutions, mission operations, and cyber services to governments, corporations, and not-for-profit organizations in the United States and internationally. It also focuses on artificial intelligence services comprising of machine learning, predictive modeling, automation and decision analytics, and quantum computing.