Leonardo DRS (NASDAQ:DRS) Issues Quarterly Earnings Results

Leonardo DRS (NASDAQ:DRS) announced its quarterly earnings results on Tuesday. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04, Briefing.com reports. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.58%. The firm had revenue of $753.00 million during the quarter, compared to analysts’ expectations of $680.38 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue was up 19.9% on a year-over-year basis. Leonardo DRS updated its FY 2024 guidance to 0.820-0.880 EPS and its FY24 guidance to $0.82-0.88 EPS.

Leonardo DRS Trading Down 1.7 %

NASDAQ:DRS opened at $27.73 on Friday. The firm has a market cap of $7.31 billion, a P/E ratio of 39.61, a P/E/G ratio of 2.04 and a beta of 0.89. Leonardo DRS has a 52 week low of $15.75 and a 52 week high of $29.85. The firm’s fifty day moving average is $25.88 and its 200-day moving average is $22.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.59 and a current ratio of 1.96.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DRS shares. BTIG Research upped their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird upped their price target on shares of Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday. 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 price objective on the stock. Finally, Truist Financial upped their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

Leonardo DRS Company Profile

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.