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

Leonardo DRS (NASDAQ:DRS) posted its quarterly earnings results on Wednesday. The company reported $0.14 earnings per share for the quarter, topping 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 9.35%. The business had revenue of $688.00 million during the quarter, compared to the consensus estimate of $645.56 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The firm’s revenue for the quarter 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 1.1 %

DRS opened at $21.22 on Friday. Leonardo DRS has a one year low of $14.12 and a one year high of $24.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.96 and a quick ratio of 1.47. The business has a 50 day simple moving average of $21.77 and a two-hundred day simple moving average of $20.20. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 3.06 and a beta of 0.79.

Analyst Ratings Changes

A number of research firms have recently weighed in on DRS. JPMorgan Chase & Co. dropped their target price on 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 increased their price objective 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 lifted their target price on shares of Leonardo DRS from $24.00 to $25.00 and gave the stock 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.