Leonardo DRS (NASDAQ:DRS) Updates FY24 Earnings Guidance

Leonardo DRS (NASDAQ:DRS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.82-0.88 for the period, compared to the consensus earnings per share estimate of $0.81. The company issued revenue guidance of $3.075-3.175 billion, compared to the consensus revenue estimate of $3.01 billion. Leonardo DRS also updated its FY 2024 guidance to 0.820-0.880 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on Leonardo DRS from $26.00 to $30.00 and gave the stock an outperform rating in a research report on Wednesday. Morgan Stanley started coverage on Leonardo DRS in a research report on Friday, May 24th. They issued an equal weight rating and a $26.00 price objective on the stock. Truist Financial lifted their price objective on Leonardo DRS from $30.00 to $32.00 and gave the stock a buy rating in a research report on Wednesday. Finally, BTIG Research lifted their price objective on Leonardo DRS from $30.00 to $33.00 and gave the stock a buy rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $28.50.

Leonardo DRS Stock Down 2.7 %

Shares of DRS traded down $0.74 on Friday, reaching $26.99. The stock had a trading volume of 54,009 shares, compared to its average volume of 635,702. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 39.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.59 and a current ratio of 1.96. The company has a 50-day simple moving average of $25.88 and a 200-day simple moving average of $22.92. Leonardo DRS has a 12-month low of $15.75 and a 12-month high of $29.85.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $753.00 million during the quarter, compared to analysts’ expectations of $680.38 million. Leonardo DRS had a return on equity of 9.58% and a net margin of 6.12%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Sell-side analysts predict that Leonardo DRS will post 0.84 EPS 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.