Leonardo DRS (NASDAQ:DRS) Issues Earnings Results

Leonardo DRS (NASDAQ:DRS) posted its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03, Briefing.com reports. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.46%. The firm had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $645.56 million. During the same quarter last year, the company posted $0.07 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. 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 0.2 %

Shares of NASDAQ DRS opened at $21.04 on Friday. The company’s 50 day simple moving average is $21.77 and its 200 day simple moving average is $20.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.78 and a quick ratio of 1.47. Leonardo DRS has a fifty-two week low of $14.12 and a fifty-two week high of $24.00. The firm has a market capitalization of $5.53 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.99 and a beta of 0.79.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DRS. JPMorgan Chase & Co. lowered their price target on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating for the company in a 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 note on Friday, March 15th. Finally, Truist Financial upped their price target on Leonardo DRS from $24.00 to $25.00 and gave the company a “buy” rating in a research note 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.