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

Leonardo DRS (NASDAQ:DRS) updated its FY 2024 earnings guidance on Wednesday. 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.

Leonardo DRS Stock Up 2.2 %

Shares of NASDAQ DRS traded up $0.66 during trading on Friday, reaching $30.73. The company had a trading volume of 674,163 shares, compared to its average volume of 621,938. The stock has a market cap of $8.10 billion, a PE ratio of 40.64, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. Leonardo DRS has a 12-month low of $17.97 and a 12-month high of $33.29. The business’s 50-day moving average is $28.44 and its 200 day moving average is $26.16.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million for the quarter, compared to analysts’ expectations of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.82%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. As a group, equities analysts forecast that Leonardo DRS will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

DRS has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday. BTIG Research lifted their target price on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial raised their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and boosted their price target for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.83.

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.