Leonardo DRS (NASDAQ:DRS) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

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

Leonardo DRS Trading Up 11.7 %

DRS opened at $31.71 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01. The stock’s 50 day moving average price is $28.32 and its 200-day moving average price is $26.10. Leonardo DRS has a one year low of $17.97 and a one year high of $32.06. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 40.00, a P/E/G ratio of 1.83 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $680.38 million. During the same quarter in the prior year, the company posted $0.15 EPS. Leonardo DRS’s quarterly revenue was up 19.9% on a year-over-year basis. On average, equities analysts forecast that Leonardo DRS will post 0.86 EPS for the current 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.