Leonardo DRS (NASDAQ:DRS) Updates 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 (EPS) guidance of 0.880-0.910 for the period, compared to the consensus 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.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $28.40 on Wednesday. The firm’s 50-day moving average is $28.32 and its two-hundred day moving average is $26.10. 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 stock has a market capitalization of $7.49 billion, a P/E ratio of 40.00, a P/E/G ratio of 1.83 and a beta of 0.96. Leonardo DRS has a 12-month low of $17.97 and a 12-month high of $30.98.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. The firm had revenue of $753.00 million during the quarter, compared to analysts’ expectations of $680.38 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. Leonardo DRS’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. Equities analysts predict that Leonardo DRS will post 0.86 earnings per share for the current year.

Analyst Ratings Changes

DRS has been the topic of several recent analyst reports. Bank of America lowered shares of Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Truist Financial raised their price objective on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, BTIG Research boosted their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Leonardo DRS currently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

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.