Leonardo DRS (NASDAQ:DRS) Issues FY 2024 Earnings Guidance

Leonardo DRS (NASDAQ:DRS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.820-0.880 for the period, compared to the consensus earnings per share estimate of 0.810. The company issued revenue guidance of $3.1 billion-$3.2 billion, compared to the consensus revenue estimate of $3.0 billion. Leonardo DRS also updated its FY24 guidance to $0.82-0.88 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DRS shares. Morgan Stanley assumed coverage on shares of Leonardo DRS in a research note on Friday, May 24th. They issued an equal weight rating and a $26.00 target price for the company. Truist Financial raised their price target on Leonardo DRS from $30.00 to $32.00 and gave the stock a buy rating in a research report on Wednesday. BTIG Research initiated coverage on Leonardo DRS in a research report on Wednesday, June 26th. They issued a buy rating and a $30.00 price target on the stock. Finally, Robert W. Baird lifted their target price on Leonardo DRS from $26.00 to $30.00 and gave the company an outperform rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Leonardo DRS has an average rating of Moderate Buy and a consensus price target of $28.00.

Leonardo DRS Trading Up 0.8 %

DRS traded up $0.21 on Wednesday, hitting $28.21. 536,784 shares of the company were exchanged, compared to its average volume of 635,675. Leonardo DRS has a 12 month low of $15.75 and a 12 month high of $29.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.59 and a current ratio of 1.96. The firm has a fifty day simple moving average of $25.72 and a two-hundred day simple moving average of $22.85. The stock has a market capitalization of $7.42 billion, a PE ratio of 39.89, a price-to-earnings-growth ratio of 2.13 and a beta of 0.89.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The firm had revenue of $753.00 million during the quarter, compared to the consensus estimate of $680.38 million. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The company’s revenue was up 19.9% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. Sell-side analysts expect that Leonardo DRS will post 0.81 earnings per share for the current year.

About Leonardo DRS

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.