Leonardo DRS (NASDAQ:DRS) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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

Leonardo DRS Stock Performance

Shares of NASDAQ:DRS traded down $1.19 during trading on Thursday, hitting $30.45. 423,190 shares of the company traded hands, compared to its average volume of 619,557. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.83 and a beta of 0.96. The business’s fifty day moving average is $28.40 and its 200-day moving average is $26.14. Leonardo DRS has a one year low of $17.97 and a one year high of $33.29. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15.

Wall Street Analyst Weigh In

Several research firms recently commented on DRS. Robert W. Baird boosted 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. BTIG Research boosted their price target on Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America cut 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. Finally, Truist Financial upped their price objective on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.83.

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.