Leonardo DRS (NASDAQ:DRS) Announces Earnings Results

Leonardo DRS (NASDAQ:DRS) posted its quarterly earnings results on Wednesday. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04, Briefing.com reports. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same quarter last year, the company earned $0.20 EPS. Leonardo DRS’s revenue for the quarter was up 15.5% compared to the same quarter last year.

Leonardo DRS Trading Down 3.8 %

Shares of NASDAQ:DRS traded down $1.19 during midday trading on Thursday, reaching $30.45. The company’s stock had a trading volume of 423,190 shares, compared to its average volume of 619,557. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 1.83 and a beta of 0.96. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. Leonardo DRS has a 1 year low of $17.97 and a 1 year high of $33.29. The business has a 50 day moving average price of $28.40 and a 200 day moving average price of $26.14.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DRS shares. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Truist Financial lifted their target price on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BTIG Research lifted their target price on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.