Leonardo DRS downgraded by BofA Securities with a new price target
$DRS
Industrial Machinery/Components
Industrials
BofA Securities downgraded Leonardo DRS from Buy to Neutral and set a new price target of $30.00 from $26.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/24/2024 | $26.00 → $30.00 | Buy → Neutral | BofA Securities |
| 6/26/2024 | $30.00 | Buy | BTIG Research |
| 5/24/2024 | $26.00 | Equal-Weight | Morgan Stanley |
| 2/26/2024 | $23.00 | Neutral | JP Morgan |
| 9/27/2023 | $20.00 | Buy | BofA Securities |
| 6/9/2023 | $19.00 | Buy | Truist |
| 4/4/2023 | $17.00 | Market Outperform | CJS Securities |
| 2/10/2023 | $17.00 | Buy | Canaccord Genuity |
Leonardo DRS, Inc. (NASDAQ:DRS) announced today that it was awarded a contract from NAVSEA to produce ship-based air and surface target detection AN/SPQ-9B radars. The contract includes options, if exercised over five years, would bring the cumulative value to more than $235 million. Under the contract, Leonardo DRS will manufacture, inspect, and test AN/SPQ-9B radars and associated spare kits. "The SPQ-9B radar is a vital ship protection system used across the fleet, and we are proud that the U.S. Navy continues to entrust us to produce this important defensive technology," said Cari Ossenfort, senior vice president and general manager of the Leonardo DRS Naval Electronics business unit.
Revenue: $812 million, up 16% year-over-year Net Earnings: $57 million, up 21% year-over-year Adjusted EBITDA: $100 million, up 22% year-over-year Diluted EPS: $0.21, up 17% year-over-year Adjusted Diluted EPS: $0.24, up 20% year-over-year Bookings: $1.1 billion (book-to-bill ratio of 1.3x) Backlog: $8.3 billion, up 75% year-over-year Raises 2024 guidance across all metrics Initiates preliminary 2025 guidance framework Leonardo DRS, Inc. (NASDAQ:DRS), a leading provider of advanced defense technologies, today reported financial results for the third quarter 2024, which ended September 30, 2024. CEO Commentary "We delivered strong third quarter results, highlighted by ro
Leonardo DRS, Inc. (NASDAQ:DRS) announced that it has been awarded a contract by General Dynamics Land Systems (GDLS) to provide additional mission equipment packages (MEP) for new SGT Stout Maneuver Short Range Air Defense (M-SHORAD) Stryker capability. The contract is valued at more than $77 million and as part of this contract Leonardo DRS will be responsible for MEP assembly, integration and test. With the integrated MEP, the SGT Stout Stryker allows soldiers to detect, identify, track, and defeat Group 3 unmanned aerial systems, rotary wing, and fixed wing threats. Three Division Air Defense Battalions have already received this urgently needed capability. "The use of manned and unma
Revenue: $812 million, up 16% year-over-year Net Earnings: $57 million, up 21% year-over-year Adjusted EBITDA: $100 million, up 22% year-over-year Diluted EPS: $0.21, up 17% year-over-year Adjusted Diluted EPS: $0.24, up 20% year-over-year Bookings: $1.1 billion (book-to-bill ratio of 1.3x) Backlog: $8.3 billion, up 75% year-over-year Raises 2024 guidance across all metrics Initiates preliminary 2025 guidance framework Leonardo DRS, Inc. (NASDAQ:DRS), a leading provider of advanced defense technologies, today reported financial results for the third quarter 2024, which ended September 30, 2024. CEO Commentary "We delivered strong third quarter results, highlighted by ro
Leonardo DRS, Inc. (NASDAQ:DRS) has scheduled a conference call for Wednesday, October 30, 2024 beginning at 10:00 a.m. (ET) to discuss its third quarter 2024 results. The company plans to issue its quarterly earnings press release prior to the conference call. The live audio broadcast of Leonardo DRS's conference call with corresponding press release and supplemental information will be available on the company's investor relations website. To attend the conference call or webcast, participants should register online at https://investors.leonardodrs.com. A replay will be available on the company's website approximately two hours after the conclusion of the conference call and will remain
Revenue: $753 million, up 20% year-over-year Net Earnings: $38 million, up 9% year-over-year Adjusted EBITDA: $82 million, up 32% year-over-year Diluted EPS: $0.14, up 8% year-over-year Adjusted Diluted EPS: $0.18, up 20% year-over-year Bookings: $941 million (book-to-bill ratio of 1.2x) Backlog: $7.9 billion, up 82% year-over-year Increases 2024 guidance across metrics Leonardo DRS, Inc. (NASDAQ:DRS), a leading provider of advanced defense technologies, today reported financial results for the second quarter 2024, which ended June 30, 2024. CEO Commentary "Our strong second quarter 2024 results reflect the solid momentum evident across the business. Healthy cus
10-Q - Leonardo DRS, Inc. (0001833756) (Filer)
8-K - Leonardo DRS, Inc. (0001833756) (Filer)
10-Q - Leonardo DRS, Inc. (0001833756) (Filer)
BofA Securities downgraded Leonardo DRS from Buy to Neutral and set a new price target of $30.00 from $26.00 previously
BTIG Research initiated coverage of Leonardo DRS with a rating of Buy and set a new price target of $30.00
Morgan Stanley initiated coverage of Leonardo DRS with a rating of Equal-Weight and set a new price target of $26.00
4 - Leonardo DRS, Inc. (0001833756) (Issuer)
4 - Leonardo DRS, Inc. (0001833756) (Issuer)
4 - Leonardo DRS, Inc. (0001833756) (Issuer)
Truist Securities analyst Michael Ciarmoli maintains Leonardo DRS (NASDAQ:DRS) with a Buy and raises the price target from $27 to $30.
BTIG analyst Andre Madrid initiates coverage on Leonardo DRS (NASDAQ:DRS) with a Buy rating and announces Price Target of $30.
SC 13G/A - Leonardo DRS, Inc. (0001833756) (Subject)
SC 13G - Leonardo DRS, Inc. (0001833756) (Subject)