Leonardo DRS (NASDAQ:DRS) Posts Earnings Results, Beats Expectations By $0.03 EPS

Leonardo DRS (NASDAQ:DRS) posted its quarterly earnings results on Wednesday. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03, Briefing.com reports. The firm 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 business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. 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 DRS stock opened at $21.22 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.47 and a current ratio of 1.96. The firm has a market cap of $5.58 billion, a P/E ratio of 30.31, a P/E/G ratio of 3.06 and a beta of 0.79. The firm’s 50 day moving average price is $21.77 and its 200-day moving average price is $20.20. Leonardo DRS has a one year low of $14.12 and a one year high of $24.00.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DRS shares. Truist Financial boosted their price target on shares of Leonardo DRS from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Bank of America increased their price target 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, JPMorgan Chase & Co. cut their price target on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th.

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.