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 guidance of 0.880-0.910 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DRS shares. Robert W. Baird lifted their price objective on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. 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. Finally, Truist Financial upped 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.17.

Leonardo DRS Price Performance

DRS traded up $3.24 during trading on Wednesday, reaching $31.64. 1,596,442 shares of the stock were exchanged, compared to its average volume of 620,487. 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 company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 1.83 and a beta of 0.96. Leonardo DRS has a 1 year low of $17.97 and a 1 year high of $33.29. The business’s 50 day moving average price is $28.40 and its two-hundred day moving average price is $26.14.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The business had revenue of $753.00 million for the quarter, compared to analyst estimates of $680.38 million. During the same period in the previous year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Leonardo DRS will post 0.86 earnings per share 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.