Upcoming AWS Coverage on WageWorks

LONDON, UK / ACCESSWIRE / February 6, 2017 / Active Wall St. announces its post-earnings coverage on Booz Allen Hamilton Holding Corp. (NYSE: BAH). The Company posted its third quarter fiscal 2017 results on January 30, 2017. The McLean-based government technology consulting firm outperformed revenue expectations and also raised revenue guidance for FY17. Register with us now for your free membership at:

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One of Booz Allen Hamilton's competitors within the Management Services space, WageWorks, Inc. (NYSE: WAGE), is estimated to report earnings on February 16, 2017. AWS will be initiating a research report on WageWorks following the release of its next earnings results.

Today, AWS is promoting its earnings coverage on BAH; touching on WAGE. Get our free coverage by signing up to:

http://www.activewallst.com/registration-3/?symbol=BAH

http://www.activewallst.com/registration-3/?symbol=WAGE

Earnings Reviewed

For the three months ended December 31, 2016, Booz Allen reported gross revenue of $1.40 billion, up 7.4% compared to gross revenue of $1.31 billion in the prior year's same period. The Company stated that the improvement was primarily driven by stronger client demand, which led to increases in client staff headcount and billability, and therefore direct labor. Booz Allen's revenue growth was also driven by an increase in billable expenses, including subcontractors and equipment purchased for clients on certain contracts.

For Q3 FY17, Booz Allen's operating income increased to $108.1 million from $105.1 million in Q3 FY16, while adjusted operating income increased to $109.2 million from $106.2 million in Q3 FY16, both primarily driven by the increase in gross revenue. The Company's adjusted EBITDA increased to $122.5 million from $121.3 million in the prior year's comparable period.

For Q3 FY17, Booz Allen's net income decreased to $55.6 million from $108.1 million and adjusted net income decreased to $56.6 million from $61.8 million in Q3 FY16; each were driven by the factors associated with operating income and adjusted operating income, respectively, and a modestly higher effective tax rate. The Company's diluted EPS decreased to $0.37 from $0.71 in Q3 FY16, and adjusted diluted EPS decreased to $0.38 from $0.41. Analysts were forecasting earnings of $0.40 per share on $1.37 billion in revenue.

Important Metrics

As of December 31, 2016, Booz Allen's total backlog was $13.5 billion compared to $12.1 billion as of December 31, 2015, an increase of 12%. All components of backlog grew during the quarter compared to the prior year. Strong awards in the quarter generated a book-to-bill ratio of 0.92x, which represents the Company's best third quarter book-to-bill in six years. The total reflects year-over-year increases in all three categories: funded, unfunded, and priced options. Additionally, the Company's headcount increased by approximately 440 employees over the prior year period and nearly 290 employees over Q2 FY17.

Dividend & Share Repurchase

The Company authorized and declared a $0.02 per share increase to its regular quarterly dividend, to $0.17 per share, which is payable on February 28, 2017, to stockholders of record on February 10, 2017. Booz Allen stated that its Board also approved a $230 million increase in its share repurchase authorization.

Outlook

For FY17, Booz Allen raised the bottom- and top-end of its revenue guidance. For FY17, the Company's expects revenue to increase in the range of 4% to 6%. Booz Allen narrowed its diluted EPS and adjusted diluted EPS guidance, and the Company now expects diluted EPS to be $1.65 to $1.69 and adjusted diluted EPS to be $1.70 to $1.74.

Stock Performance

At the closing bell, on Friday, February 03, 2017, Booz Allen Hamilton's stock closed the trading session at $34.51, slightly up by 0.12% from its previous closing price of $34.47. A total volume of 2.60 million shares have exchanged hands, which was higher than the 3-month average volume of 1.55 million shares. The Company's stock price rallied 11.16% in the last three months, 15.08% in the past six months, and 27.65% in the previous twelve months. The stock is trading at a PE ratio of 17.01 and has a dividend yield of 1.74%.

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SOURCE: Active Wall Street