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

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

DRS stock traded up $0.23 on Friday, hitting $21.22. 699,995 shares of the company’s stock traded hands, compared to its average volume of 598,959. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 3.06 and a beta of 0.79. Leonardo DRS has a 1-year low of $14.12 and a 1-year high of $24.00. The company has a current ratio of 1.96, a quick ratio of 1.47 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $21.77 and a 200-day moving average of $20.22.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate of $645.56 million. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 EPS. On average, analysts forecast that Leonardo DRS will post 0.8 EPS for the current fiscal year.

Analyst Ratings Changes

DRS has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on Leonardo DRS from $25.00 to $24.00 and set a neutral rating on the stock in a report on Friday, March 15th. 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 report on Wednesday, February 28th. Finally, Bank of America raised their price objective on shares of Leonardo DRS from $22.00 to $26.00 and gave the stock a buy rating in a research note 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.