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

Leonardo DRS (NASDAQ:DRS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.820-0.880 for the period, compared to the consensus estimate of 0.810. The company issued revenue guidance of $3.1 billion-$3.2 billion, compared to the consensus revenue estimate of $3.0 billion. Leonardo DRS also updated its FY24 guidance to $0.82-0.88 EPS.

Leonardo DRS Stock Up 2.1 %

Shares of NASDAQ:DRS opened at $28.80 on Tuesday. The company has a market capitalization of $7.58 billion, a PE ratio of 40.29, a P/E/G ratio of 2.16 and a beta of 0.89. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 0.15. Leonardo DRS has a twelve month low of $15.75 and a twelve month high of $29.85. The firm has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $22.79.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $688.00 million during the quarter, compared to the consensus estimate of $645.56 million. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, equities analysts predict that Leonardo DRS will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on DRS shares. BTIG Research started coverage on shares of Leonardo DRS in a research report on Wednesday, June 26th. They issued a buy rating and a $30.00 price target for the company. Truist Financial upped their price target on shares of Leonardo DRS from $27.00 to $30.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley started coverage on shares of Leonardo DRS in a research report on Friday, May 24th. They issued an equal weight rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $27.20.

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.