Leonardo DRS (NASDAQ:DRS) Updates FY 2024 Earnings Guidance

Leonardo DRS (NASDAQ:DRS - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.740-0.820 for the period, compared to the consensus estimate of 0.800. The company issued revenue guidance of $2.9 billion-$3.0 billion, compared to the consensus revenue estimate of $3.0 billion. Leonardo DRS also updated its FY24 guidance to $0.74-$0.82 EPS.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Truist Financial upped 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. JPMorgan Chase & Co. dropped their price objective 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. Finally, Bank of America upped their target price on shares of Leonardo DRS from $22.00 to $26.00 and gave the company a buy rating in a report on Friday, March 15th.

Leonardo DRS Stock Down 4.6 %

Shares of Leonardo DRS stock traded down $1.00 during trading hours on Wednesday, hitting $20.52. The company had a trading volume of 1,160,882 shares, compared to its average volume of 648,051. The company's 50-day moving average is $21.77 and its two-hundred day moving average is $20.20. Leonardo DRS has a twelve month low of $14.12 and a twelve month high of $24.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.78 and a quick ratio of 1.47. The company has a market cap of $5.39 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 3.20 and a beta of 0.80.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. The firm had revenue of $926.00 million during the quarter, compared to analysts' expectations of $880.03 million. Leonardo DRS had a net margin of 5.94% and a return on equity of 8.72%. Leonardo DRS's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. Analysts anticipate that Leonardo DRS will post 0.8 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.