Leonardo DRS (NASDAQ:DRS) Releases FY24 Earnings Guidance

Leonardo DRS (NASDAQ:DRS) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Analysts Set New Price Targets

DRS has been the topic of several analyst reports. BTIG Research raised 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. Robert W. Baird lifted their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company 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 target price for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, Truist Financial lifted their price target on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.83.

Leonardo DRS Stock Up 2.2 %

Shares of DRS stock traded up $0.65 during mid-day trading on Friday, reaching $30.72. 674,166 shares of the company were exchanged, compared to its average volume of 621,940. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01. The business’s 50 day simple moving average is $28.48 and its 200 day simple moving average is $26.23. The company has a market capitalization of $8.10 billion, a P/E ratio of 41.51, a P/E/G 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.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.82%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. Research analysts predict that Leonardo DRS will post 0.86 earnings per share for the current year.

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.