Leonardo DRS (NASDAQ:DRS) Issues FY24 Earnings Guidance

Leonardo DRS (NASDAQ:DRS - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.88-0.91 for the period, compared to the consensus earnings per share estimate of $0.86. The company issued revenue guidance of $3.15-3.20 billion, compared to the consensus revenue estimate of $3.14 billion. Leonardo DRS also updated its FY 2024 guidance to 0.880-0.910 EPS.

Analyst Ratings Changes

Several equities analysts have recently commented on DRS shares. Bank of America downgraded Leonardo DRS from a "buy" rating to a "neutral" rating and upped their target price for the company from $26.00 to $30.00 in a research report on Tuesday, September 24th. Truist Financial increased their price objective on Leonardo DRS from $30.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price objective on Leonardo DRS from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. Finally, BTIG Research upped their target price on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $29.17.

Leonardo DRS Trading Up 12.5 %

NASDAQ DRS traded up $3.55 during trading hours on Wednesday, reaching $31.95. The company had a trading volume of 1,102,534 shares, compared to its average volume of 617,843. Leonardo DRS has a 1-year low of $17.97 and a 1-year high of $33.29. The stock has a 50-day moving average of $28.32 and a 200 day moving average of $26.10. The stock has a market capitalization of $8.43 billion, a P/E ratio of 45.16, a price-to-earnings-growth ratio of 1.83 and a beta of 0.96. The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $753.00 million during the quarter, compared to analysts' expectations of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The company's quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. As a group, research analysts anticipate that Leonardo DRS will post 0.86 earnings per share for the current fiscal year.

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.