Why Booz Allen Hamilton Holding Corporation (NYSE: BAH) stock is rising

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Booz Allen Hamilton Holding Corporation (NYSE: BAH) stock rose over 1% in the pre-market session of May 27th, 2020 (As of 6:05 pm GMT-4 ; Source: Google finance) after the company posted better than expected results for the fourth quarter of FY 20. Total backlog grew by 7.3% compared to the end of the prior year to $20.7 billion and the quarterly book-to-bill ratio was 0.38x. Net cash provided by operating activities for fiscal 2020 has increased to $551.4 million as compared to $499.6 million in the prior year, and $185.0 million for the fourth quarter, compared to $216.4 million in the prior year period. Free cash flow for fiscal 2020 was $423.3 million compared to $404.9 million for the prior year, and $147.6 million for the fourth quarter compared with $179.8 million in the prior year period.

Moreover, the Company has delivered annual revenue growth of 11.3 percent and an 9.9 percent annual increase in Revenue, Excluding Billable Expenses, full year net income increased by 15.3 percent to $482.6 million and Adjusted Net Income rose by 13.6 percent to $448.7 million. Strong top-line growth contributed to an 11.8 percent annual increase in Adjusted EBITDA to $754.1 million. Annual Adjusted EBITDA Margin on Revenue was 10.1 percent.

BAH in the fourth quarter of FY 20 has reported the adjusted earnings per share of 73 cents, beating the analysts’ estimates for the adjusted earnings per share of 70 cents, according to the Zacks Investment Research. The company had reported 10.6 percent rise in the adjusted revenue to $1.97 billion in the fourth quarter of FY 20, beating the analysts’ estimates for revenue of $1.94 billion. The company has reported 14.2% increase in the adjusted net income to $102.8 million, 12.6% increase in the adjusted EBITDA to $172.6 million & 12.4% increase in the adjusted operating income to $151.8 million.

Additionally, the company has declared a regular quarterly dividend of 31 cents per share, which is payable on June 30, 2020, to stockholders of record on June 15, 2020.

For fiscal 2021, the company expects revenue growth to be in the range of 6 percent to 10 percent, Adjusted EBITDA Margin on Revenue to be approximately 10 percent, Cash from Operating Activities to be in the range of $550 million – $600 million and adjusted Diluted EPS to be between $3.40 and $3.60. The company updated goals of its three years investment thesis, that includes the Adjusted Diluted EPS to be in the range of 70 percent to 80 percent.

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