Leonardo DRS (NASDAQ:DRS) Releases FY24 Earnings Guidance

Leonardo DRS (NASDAQ:DRS) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.88-0.91 for the period, compared to the consensus estimate of $0.86. The company issued revenue guidance of $3.15-3.20 billion, compared to the consensus revenue estimate of $3.14 billion. Leonardo DRS also updated its FY 2024 guidance to 0.880-0.910 EPS.

Analyst Ratings Changes

A number of analysts have issued reports on 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 note on Wednesday, July 31st. Bank of America lowered shares of Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. BTIG Research boosted their target price on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their price target on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.83.

Leonardo DRS Stock Up 2.2 %

Shares of Leonardo DRS stock traded up $0.65 during trading on Friday, reaching $30.72. The company had a trading volume of 674,166 shares, compared to its average volume of 621,940. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 41.51, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. Leonardo DRS has a fifty-two week low of $17.97 and a fifty-two week high of $33.29. The firm’s fifty day moving average is $28.48 and its 200-day moving average is $26.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01.

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