Leonardo DRS (NASDAQ:DRS) Updates FY24 Earnings Guidance

Leonardo DRS (NASDAQ:DRS) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $0.88-0.91 for the period, compared to the consensus EPS 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.

Leonardo DRS Stock Up 11.7 %

DRS opened at $31.71 on Wednesday. The firm’s 50 day simple moving average is $28.32 and its two-hundred day simple moving average is $26.10. The company has a market capitalization of $8.36 billion, a PE ratio of 40.00, a PEG ratio of 1.83 and a beta of 0.96. Leonardo DRS has a 1-year low of $17.97 and a 1-year high of $32.06. 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) last announced its earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The company had revenue of $753.00 million for the quarter, compared to analysts’ expectations of $680.38 million. During the same period last year, the firm earned $0.15 EPS. Leonardo DRS’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, equities analysts forecast that Leonardo DRS will post 0.86 EPS for the current year.

Analyst Ratings Changes

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

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.