Leonardo DRS, Inc. (NASDAQ:DRS) Receives $46.29 Consensus Price Target from Brokerages

Key Points

• Leonardo DRS, Inc. has been rated as a "Moderate Buy" by seven analysts, with two hold ratings and five buy ratings, while the average 12-month target price is approximately $46.29.
• The company recently declared a quarterly dividend of $0.09 per share, which reflects an annualized yield of 0.9% and a payout ratio of 38.71%.
• Leonardo DRS reported earnings of $0.23 per share for the last quarter, exceeding expectations, with a year-over-year revenue increase of 10.1%.

Shares of Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $46.75.

Several equities analysts recently commented on the stock. Wall Street Zen cut shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Morgan Stanley raised their target price on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Canaccord Genuity Group assumed coverage on shares of Leonardo DRS in a research note on Monday. They issued a "buy" rating and a $50.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Leonardo DRS in a research report on Monday, June 30th. They issued a "buy" rating and a $49.00 price target on the stock. Finally, BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th.

Leonardo DRS Stock Up 0.7%

Leonardo DRS stock traded up $0.29 during midday trading on Friday, hitting $41.87. 1,061,124 shares of the stock were exchanged, compared to its average volume of 1,057,868. Leonardo DRS has a 1 year low of $26.00 and a 1 year high of $49.31. The firm has a market cap of $11.14 billion, a P/E ratio of 45.02, a P/E/G ratio of 2.33 and a beta of 0.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70. The company has a 50 day moving average price of $45.16 and a two-hundred day moving average price of $38.71.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. Leonardo DRS's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. On average, sell-side analysts predict that Leonardo DRS will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 annualized dividend and a yield of 0.9%. Leonardo DRS's payout ratio is 38.71%.

Insiders Place Their Bets

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the transaction, the director directly owned 23,882 shares of the company's stock, valued at $1,097,139.08. This represents a 21.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.12% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in shares of Leonardo DRS during the 2nd quarter valued at about $516,000. Steward Partners Investment Advisory LLC boosted its position in Leonardo DRS by 91.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 575 shares of the company's stock valued at $27,000 after buying an additional 275 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Leonardo DRS in the second quarter valued at about $1,046,000. Legal & General Group Plc boosted its position in Leonardo DRS by 6.1% in the second quarter. Legal & General Group Plc now owns 124,803 shares of the company's stock valued at $5,801,000 after buying an additional 7,218 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd boosted its position in Leonardo DRS by 275.4% in the second quarter. Catalyst Funds Management Pty Ltd now owns 27,030 shares of the company's stock valued at $1,256,000 after buying an additional 19,830 shares in the last quarter. Institutional investors own 18.76% of the company's stock.

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.