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

Leonardo DRS (NASDAQ:DRS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.740-0.820 for the period, compared to the consensus EPS 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.

Leonardo DRS Stock Performance

DRS stock traded up $0.23 during trading on Friday, reaching $21.22. The company had a trading volume of 699,995 shares, compared to its average volume of 598,959. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 3.06 and a beta of 0.79. Leonardo DRS has a twelve month low of $14.12 and a twelve month high of $24.00. The firm has a 50-day simple moving average of $21.77 and a 200-day simple moving average of $20.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.47 and a current ratio of 1.96.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $645.56 million. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, sell-side analysts expect that Leonardo DRS will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Leonardo DRS from $25.00 to $24.00 and set a neutral rating for the company in a research report on Friday, March 15th. Bank of America increased their target price on shares of Leonardo DRS from $22.00 to $26.00 and gave the company a buy rating in a research note on Friday, March 15th. Finally, Truist Financial increased their price target on shares of Leonardo DRS from $24.00 to $25.00 and gave the company a buy rating in a report on Wednesday, February 28th.

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.