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

Leonardo DRS (NASDAQ:DRS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.740-0.820 for the period, compared to the consensus earnings per share estimate of 0.800. The company issued revenue guidance of $2.9 billion-$3.0 billion, compared to the consensus revenue estimate of $3.0 billion. Leonardo DRS also updated its FY24 guidance to $0.74-$0.82 EPS.

Leonardo DRS Trading Up 1.1 %

NASDAQ DRS traded up $0.23 on Friday, hitting $21.22. 699,995 shares of the stock were exchanged, compared to its average volume of 598,959. Leonardo DRS has a 52-week low of $14.12 and a 52-week high of $24.00. The firm has a market capitalization of $5.58 billion, a P/E ratio of 30.31, a P/E/G ratio of 3.06 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.47 and a current ratio of 1.96. The stock has a fifty day moving average price of $21.77 and a two-hundred day moving average price of $20.22.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $645.56 million. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. Research analysts forecast that Leonardo DRS will post 0.8 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on DRS. Bank of America raised their price objective on Leonardo DRS from $22.00 to $26.00 and gave the stock a buy rating in a research report on Friday, March 15th. JPMorgan Chase & Co. reduced their price target on Leonardo DRS from $25.00 to $24.00 and set a neutral rating for the company in a research report on Friday, March 15th. Finally, Truist Financial upped their price objective on Leonardo DRS from $24.00 to $25.00 and gave the stock a buy rating in a research report on Wednesday, February 28th.

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.