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

Leonardo DRS (NASDAQ:DRS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.880-0.910 for the period, compared to the consensus estimate of 0.860. The company issued revenue guidance of $3.2 billion-$3.2 billion, compared to the consensus revenue estimate of $3.1 billion. Leonardo DRS also updated its FY 2025 guidance to EPS.

Leonardo DRS Trading Up 2.2 %

DRS traded up $0.66 on Friday, reaching $30.73. 674,163 shares of the company traded hands, compared to its average volume of 621,938. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. The company has a market cap of $8.10 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The firm has a fifty day simple moving average of $28.44 and a two-hundred day simple moving average of $26.16. Leonardo DRS has a one year low of $17.97 and a one year high of $33.29.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a return on equity of 9.82% and a net margin of 6.23%. Leonardo DRS’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. As a group, equities research analysts expect that Leonardo DRS will post 0.86 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on DRS. Robert W. Baird increased their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial upped their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BTIG Research lifted their price target on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.83.

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.