Leonardo DRS (NASDAQ:DRS) Issues Quarterly Earnings Results

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

Leonardo DRS Price Performance

Shares of Leonardo DRS stock traded down $1.40 during trading on Thursday, reaching $30.24. 295,851 shares of the stock traded hands, compared to its average volume of 618,954. 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 capitalization of $7.97 billion, a price-to-earnings ratio of 41.12, a P/E/G ratio of 1.83 and a beta of 0.96. Leonardo DRS has a 52-week low of $17.97 and a 52-week high of $33.29. The business has a fifty day simple moving average of $28.40 and a two-hundred day simple moving average of $26.14.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DRS. Bank of America downgraded shares of Leonardo DRS from a “buy” rating to a “neutral” rating and upped their target price for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Robert W. Baird boosted their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday. Truist Financial increased their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BTIG Research boosted their price target on Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Leonardo DRS presently has a consensus rating of “Moderate Buy” and an average 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.