Leonardo DRS (NASDAQ:DRS) Releases Earnings Results, Beats Expectations By $0.04 EPS

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

Leonardo DRS Trading Down 4.0 %

Shares of DRS traded down $1.26 during midday trading on Thursday, hitting $30.38. 413,540 shares of the stock were exchanged, compared to its average volume of 619,512. 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 firm has a market cap of $8.01 billion, a P/E 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 stock has a fifty day simple moving average of $28.40 and a 200 day simple moving average of $26.14.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and raised their target price for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. BTIG Research lifted their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial raised their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.83.

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.