Leonardo DRS (NASDAQ:DRS) Announces Earnings Results

Leonardo DRS (NASDAQ:DRSGet Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01, Briefing.com reports. Leonardo DRS had a return on equity of 8.85% and a net margin of 5.94%. The business had revenue of $926.00 million during the quarter, compared to analysts’ expectations of $880.03 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. Leonardo DRS updated its FY24 guidance to $0.74-0.82 EPS and its FY 2024 guidance to 0.740-0.820 EPS.

Leonardo DRS Stock Up 1.2 %

NASDAQ DRS traded up $0.26 during trading on Thursday, reaching $22.76. 98,486 shares of the company’s stock were exchanged, compared to its average volume of 574,340. The stock has a market cap of $5.97 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 3.36 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 1.83. The company has a 50 day moving average price of $19.85 and a two-hundred day moving average price of $18.67. Leonardo DRS has a 1 year low of $10.80 and a 1 year high of $23.68.

Institutional Trading of Leonardo DRS

A number of institutional investors have recently bought and sold shares of the business. Dark Forest Capital Management LP acquired a new stake in shares of Leonardo DRS during the first quarter worth about $33,000. PNC Financial Services Group Inc. acquired a new stake in shares of Leonardo DRS during the fourth quarter worth about $35,000. Comerica Bank acquired a new stake in shares of Leonardo DRS during the third quarter worth about $36,000. Parkside Financial Bank & Trust increased its position in shares of Leonardo DRS by 196.4% during the second quarter. Parkside Financial Bank & Trust now owns 2,825 shares of the company’s stock worth $49,000 after purchasing an additional 1,872 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Leonardo DRS during the fourth quarter worth about $63,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DRS has been the subject of a number of research reports. Truist Financial lifted their price objective on Leonardo DRS from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. started coverage on Leonardo DRS in a report on Monday. They issued a “neutral” rating and a $23.00 target price for the company.

Read Our Latest Stock Report on Leonardo DRS

About Leonardo DRS

(Get Free Report)

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products, systems, and military support service. 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.

Further Reading

Earnings History for Leonardo DRS (NASDAQ:DRS)

Receive News & Ratings for Leonardo DRS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leonardo DRS and related companies with MarketBeat.com's FREE daily email newsletter.