Leonardo DRS, Inc. (DRS) To Go Ex-Dividend on November 12th

Leonardo DRS, Inc. (NASDAQ:DRS) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.09 per share on Wednesday, November 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 12th.

Leonardo DRS has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Leonardo DRS to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 24.7%.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $37.68 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.56 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $10.06 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.39 and a beta of 0.32. The business’s 50-day moving average price is $36.70 and its 200-day moving average price is $42.18. Leonardo DRS has a 12 month low of $32.43 and a 12 month high of $50.59.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Thursday, October 29th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Leonardo DRS had a return on equity of 14.49% and a net margin of 9.40%. Leonardo DRS’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. Sell-side analysts forecast that Leonardo DRS will post 1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DRS shares. Guggenheim began coverage on shares of Leonardo DRS in a report on Monday, September 14th. They issued a “buy” rating and a $51.00 price objective for the company. Weiss Ratings lowered shares of Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 22nd. Oppenheimer initiated coverage on Leonardo DRS in a report on Thursday, October 22nd. They issued an “outperform” rating and a $45.00 price objective on the stock. Morgan Stanley lowered their target price on Leonardo DRS from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Finally, JPMorgan Chase & Co. increased their target price on Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.57.

About Leonardo DRS

Leonardo DRS, Inc is a defense technology company that develops and supplies advanced products and systems for the U.S. military and government customers, as well as allied nations. The company operates as a subsidiary of Leonardo S.p.A. and focuses on technologies used in land, sea, air and space-related defense applications.

Its offerings include sensing and surveillance systems, electro-optical and infrared technologies, radar and electronic warfare products, network computing and communications systems, counter-uncrewed aircraft systems, force protection equipment, and naval power and propulsion systems.