Kratos Defense & Security Solutions (NASDAQ:KTOS) Issues Earnings Results, Beats Estimates By $0.05 EPS

Kratos Defense & Security Solutions (NASDAQ:KTOS) issued its quarterly earnings data on Wednesday. The aerospace company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05, Briefing.com reports. Kratos Defense & Security Solutions had a positive return on equity of 3.43% and a negative net margin of 0.06%. The business had revenue of $300.10 million for the quarter, compared to analysts’ expectations of $276.08 million. During the same period in the prior year, the firm earned $0.05 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Kratos Defense & Security Solutions updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Kratos Defense & Security Solutions Price Performance

Shares of NASDAQ KTOS opened at $19.73 on Friday. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 78.31 and a beta of 1.05. The business has a 50-day moving average of $20.89 and a 200-day moving average of $19.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.02 and a quick ratio of 2.47. Kratos Defense & Security Solutions has a fifty-two week low of $13.98 and a fifty-two week high of $22.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Kratos Defense & Security Solutions in a research note on Friday, June 28th. Raymond James upgraded Kratos Defense & Security Solutions from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $20.00 to $27.00 in a research report on Friday, April 26th. JMP Securities assumed coverage on Kratos Defense & Security Solutions in a research note on Tuesday, May 28th. They issued a “market outperform” rating and a $27.00 price target on the stock. BTIG Research started coverage on Kratos Defense & Security Solutions in a research note on Wednesday, June 26th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada increased their target price on Kratos Defense & Security Solutions from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Kratos Defense & Security Solutions presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Insider Activity at Kratos Defense & Security Solutions

In other news, SVP Marie Mendoza sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $20.20, for a total transaction of $30,300.00. Following the transaction, the senior vice president now directly owns 65,515 shares of the company’s stock, valued at $1,323,403. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Phillip D. Carrai sold 3,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $20.19, for a total transaction of $70,665.00. Following the completion of the sale, the insider now directly owns 286,587 shares of the company’s stock, valued at $5,786,191.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Marie Mendoza sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $20.20, for a total transaction of $30,300.00. Following the completion of the sale, the senior vice president now directly owns 65,515 shares of the company’s stock, valued at $1,323,403. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,220 shares of company stock worth $3,777,256. Insiders own 2.27% of the company’s stock.

Kratos Defense & Security Solutions Company Profile

Kratos Defense & Security Solutions, Inc operates as a technology company that addresses the defense, national security, and commercial markets. It operates through two segments, Kratos Government Solutions and Unmanned Systems. The company offers ground systems for satellites and space vehicles, including software for command and control, telemetry, and tracking and control; jet-powered unmanned aerial drone systems, hypersonic vehicles, and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; command, control, communication, computing, combat, intelligence surveillance and reconnaissance; and microwave electronic products for missile, radar, missile defense, space, and satellite; counter unmanned aircraft systems, directed energy, communication and other systems, and virtual and augmented reality training systems for the warfighter.