Stephen Percoco, CFA
Value, special situations, bonds, newsletter provider

Booz Allen Hamilton STILL Looks Cheap

One year after paying a $7.50 per share dividend, Booz Allen Hamilton Holdings (NYSE:BAH) still looks cheap. The risks facing the company have increased, given the uncertainties still surrounding the federal debt and deficit and the sequester, but they appear to be manageable.

BAH reported fiscal 2014 second quarter GAAP earnings of $0.45 per share, compared with $0.27 last year. Excluding certain items, such as amortization of intangible assets and debt issuance costs, the company earned $0.47 per share, up 20.5% from $0.39 last year. Consensus estimates were $0.37 per share.

The increase in earnings came despite a small decline in revenues. Second quarter revenues were $1.38 billion, compared with $1.39 billion last year. This year's revenues benefited...

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