Leonardo DRS (NASDAQ:DRS) Posts Quarterly Earnings Results

Leonardo DRS (NASDAQ:DRS) announced its quarterly earnings data on Wednesday. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04, Briefing.com reports. The firm had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS.

Leonardo DRS Stock Performance

Leonardo DRS stock traded down $1.40 during mid-day trading on Thursday, reaching $30.24. 295,851 shares of the stock traded hands, compared to its average volume of 618,954. Leonardo DRS has a 12-month low of $17.97 and a 12-month high of $33.29. The business’s 50-day moving average is $28.40 and its 200-day moving average is $26.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. The stock has a market capitalization of $7.97 billion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 1.83 and a beta of 0.96.

Analyst Ratings Changes

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

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.