Leonardo DRS (NASDAQ:DRS) Announces Earnings Results

Leonardo DRS (NASDAQ:DRS) issued its earnings results on Wednesday. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04, Briefing.com reports. Leonardo DRS had a return on equity of 9.82% and a net margin of 6.23%. The business had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. During the same period in the previous year, the company posted $0.20 EPS. Leonardo DRS’s revenue was up 15.5% on a year-over-year basis.

Leonardo DRS Stock Down 5.0 %

Shares of DRS stock opened at $30.07 on Friday. Leonardo DRS has a 1-year low of $17.97 and a 1-year high of $33.29. The stock’s fifty day moving average price is $28.44 and its 200 day moving average price is $26.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.

Analysts Set New Price Targets

DRS has been the topic of a number of analyst reports. BTIG Research lifted their price target on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Truist Financial lifted their price target on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Finally, Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.83.

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.