Leonardo DRS (NASDAQ:DRS) Releases Earnings Results, Beats Estimates By $0.03 EPS

Leonardo DRS (NASDAQ:DRS) posted its quarterly earnings results on Wednesday. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03, Briefing.com reports. Leonardo DRS had a net margin of 5.94% and a return on equity of 8.72%. The company had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $645.56 million. During the same quarter in the previous year, the firm posted $0.07 EPS. Leonardo DRS’s revenue was up 20.9% on a year-over-year basis. 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

Shares of NASDAQ:DRS traded up $0.47 during midday trading on Thursday, reaching $20.99. 690,550 shares of the company traded hands, compared to its average volume of 648,550. The firm’s fifty day moving average price is $21.77 and its two-hundred day moving average price is $20.20. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 32.80, a price-to-earnings-growth ratio of 3.14 and a beta of 0.79. The company has a quick ratio of 1.47, a current ratio of 1.78 and a debt-to-equity ratio of 0.15. Leonardo DRS has a 12 month low of $14.12 and a 12 month high of $24.00.

Wall Street Analysts Forecast Growth

DRS has been the topic of several research reports. Bank of America boosted their target price on Leonardo DRS from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. lowered their price objective on Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Finally, Truist Financial increased their target price on shares of Leonardo DRS from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th.

About Leonardo DRS

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.