Leonardo DRS (NASDAQ:DRS) Releases Earnings Results, Beats Estimates By $0.03 EPS

Leonardo DRS (NASDAQ:DRS) issued its quarterly earnings results on Wednesday. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03, Briefing.com reports. Leonardo DRS had a return on equity of 8.72% and a net margin of 5.94%. The company had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $645.56 million. During the same quarter last year, the business earned $0.07 earnings per share. Leonardo DRS’s revenue was up 20.9% 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 Trading Up 2.0 %

Shares of NASDAQ:DRS traded up $0.41 during midday trading on Thursday, hitting $20.93. 415,780 shares of the stock were exchanged, compared to its average volume of 645,031. The business’s 50-day moving average price is $21.77 and its 200 day moving average price is $20.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.47 and a current ratio of 1.78. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 3.14 and a beta of 0.79. Leonardo DRS has a 12 month low of $14.12 and a 12 month high of $24.00.

Analyst Ratings Changes

A number of research firms have issued reports on DRS. JPMorgan Chase & Co. decreased their target price on Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Bank of America lifted their target price on Leonardo DRS from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Truist Financial lifted their target price on Leonardo DRS from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th.

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.