Leonardo DRS (NASDAQ:DRS) Announces Earnings Results

Leonardo DRS (NASDAQ:DRS - Get Free Report) announced its earnings results on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.03, Briefing.com reports. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $645.56 million. Leonardo DRS had a net margin of 5.94% and a return on equity of 8.72%. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. 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 Stock Performance

NASDAQ:DRS traded up $0.47 during midday trading on Thursday, reaching $20.99. The stock had a trading volume of 690,550 shares, compared to its average volume of 648,550. The firm has a fifty day simple moving average of $21.77 and a two-hundred day simple moving average of $20.20. Leonardo DRS has a 12-month low of $14.12 and a 12-month high of $24.00. The company has a quick ratio of 1.47, a current ratio of 1.78 and a debt-to-equity ratio of 0.15. The stock has a market cap of $5.51 billion, a P/E ratio of 32.80, a P/E/G ratio of 3.14 and a beta of 0.79.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DRS. JPMorgan Chase & Co. lowered their target price on shares of Leonardo DRS from $25.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, March 15th. Truist Financial lifted their price objective on shares of Leonardo DRS from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Finally, Bank of America lifted their price objective on shares of Leonardo DRS from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, March 15th.

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.